BREAKING: Nigeria’s inflation rate rises to 21.91% as cash scarcity persists | TheCable
The inflation rate data is contained the latest CPI report released on Wednesday by the National Bureau of Statistics .
According to the NBS report, “the February 2023 inflation rate showed an increase of 0.09 percent points when compared to that of January 2023 headline inflation rate”.“Similarly, on a year-on-year basis, the headline inflation rate was 6.21 percent points higher compared to the rate recorded in February 2022, which was 15.70 percent,” the bureau said.
“On a month-on-month basis, the percentage change in the all-items index in February 2023 was 1.71 percent , which was 0.16 percent points lower than the rate recorded in January 2023 .”This means that in February 2023, on average, the general price level was 0.16 percent lower relative to January 2023.
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