NBS: Nigeria’s inflation rate peaked to 17.33% in Q1 2021

Nigeria’s inflation rate rose to 17.33% in February 2021, from 16.47% recorded in the previous month. This represents the highest inflation rate recorded in four years.

This is according to the latest inflation report published by the National Bureau of Statistics (NBS). Food inflation rose to 21.79% in February 2021 compared to 20.57% recorded in January 2021.

The “All items less farm produce” or Core inflation, which excludes the prices of volatile agricultural produce stood at 12.38% in February 2021, up by 0.53% when compared with 11.85% recorded in January 2021.

Details shortly…

Suzan O/NBS website/NM