Nigeria’s Inflation Rate Hits 17.33%, Highest In Four Years
Nigeria’s inflation rate has risen to 17.33% in February from 16.47% recorded in January.
This is the highest point since April 2017.
According to the CPI/Inflation report released by the National Bureau of Statistics (NBS) on Tuesday, the food inflation stood at 21.79 percent, the highest point since the 2009 data series began.
“The consumer price index, (CPI) which measures inflation increased by 17.33 percent (year-on-year) in February 2021. This is 0.86 percent points higher than the rate recorded in January 2021 (16.47) percent.