The food index rose to 15.18% compared to 15.04% recorded in May 2020 while core inflation, which excludes the prices of volatile agricultural produce that stood at 10.13% in June 2020 compared to 10.12% recorded in May 2020. If prices continue to sow, it will continue to have a devastating effect on the poor households by making it difficult to afford food.
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Nigeria’s October inflation leaped to 11.61 from 11.24 per cent in September indicating a 1.07 percentage point increase month-on-month. That’s according to data from the National Bureau of Statistics. Analyst at Assar Investment, Muktar Mohammed joins CNBC Africa to discuss Nigeria's equities market.