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Nigeria’s inflation rate rose further to 14.23 per cent in October, due to the spike in the prices of basic food items in recent times. “This rise in the food index was caused by increases in prices of Bread and cereals, Potatoes, Yam and other tubers, Meat, Fish, Fruits, Oils and fats, and Vegetables.” Consumer prices up 1.54% over the previous month in October, which was above the 1.48% advance recorded in September. October’s print marked the eighth consecutive month of accelerating price growth and the sharpest increase in over three years. Inflation leaped from 13.7% in September to 14.2% in October, marking the highest reading since February 2018. As a result, it moved further above the Central Bank’s target range of 6.0%–9.0%. Moreover, core consumer prices, which exclude volatile agricultural produce, rose 1.24% over the previous month in October, quickening from September’s 0.94% increase. Lastly, core inflation jumped to 11.1% from 10.6% in the previous month.