Nigeria’s inflation rate has surged to 15.70 percent, according to the National Bureau of Statistics (NBS), amid a severe gasoline shortage.
According to Anaedoonline.ng, the NBS revealed this in its Consumer Price Index (CPI) data for February 2022, which was issued today.
JUST IN: Inflation Rate Drops To 15.4% – NBS Reveals
In February 2022, the consumer price index, which measures the rate of rise in the cost of goods and services, increased by 15.70 percent year over year.
The headline inflation rate dropped in February, according to the data, as compared to the same month the prior year.
The rate is 1.63 percentage points lower than the February 2021 rate of 17.33 percent.
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