Nigeria’s inflation hits 21.91% – NBS

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National Bureau of Statistics (NBS) says Nigeria inflation rate jumped to 21.91 per cent as at January 2023, compared to January 2022 inflation rate which was 21.82 per cent.

The percentage represents a 0.09 per cent point increase.

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This was disclosed in a recent Consumer Price Index report by the NBS, Wednesday.

The rise in the inflation rate followed the Naira crisis across the country and uncertainties relating to the just concluded presidential election.

The NBS said the rise in food inflation was caused by increases in prices of oil and fat, fish, meats, vegetable, yam and other tubers, bread and cereals, and other foods.

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