Nigeria’s Inflation Rate Rises To 21.82% Amid Naira Redesign Policy

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Nigeria's inflation hits 26.72% in September - NBS report
Nigeria's inflation hits 26.72% in September - NBS report

The consumer price index (CPI), which measures the rate of change in prices of goods and services, surged to 21.82 percent in January 2023, up from 21.34 percent in the previous month.

The inflation rate data is contained the latest consumer price index (CPI) report released on Wednesday by the National Bureau of Statistics (NBS).

The January inflation rate showed an increase of 0.47 percent points when compared to December 2022 inflation rate.

Nigeria’s Inflation Rate Rises To 21.82% Amid Naira Redesign Policy

However, on a year-on-year basis, the headline inflation rate was 6.22 percent points higher compared to the rate recorded in January 2022, which was 15.60 percent.

Source: The Cable