Nigeria’s inflation rate has grown to 21.91%, compared to 21.82% in January 2023.
The proportion has increased by 0.09% points.
This was revealed in a recent Consumer Price Index report released on Wednesday by the National Bureau of Statistics.
The surge in the inflation rate was caused by the currency issue in the country as well as uncertainty surrounding the recently ended presidential election.
Inflation: Central Bank Of Nigeria Raises Interest Rates To 15.5%
According to the NBS, the increase in food inflation was caused by price increases in oil and fat, fish, meats, vegetables, yam and other tubers, bread and cereals, and other items.
Details soon…
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