Nigeria’s inflation has recorded yet another rise to 12.20 percent in February.
It was 12.13 percent recorded in January 2020.
A report published by the National Bureau of Statistics on Tuesday revealed that food inflation increased marginally Year on Year to 14.90% in January 2020, compared to the figures obtained (14.85%) in January 2019.
Core Inflation also rose to 9.43% in January 2020 compared to the 9.35% figures in January 2020.
CPI and Inflation Report February 2020
The consumer price index, (CPI) which measures inflation increased by 12.20 percent (year-on-year) in February 2020. This is 0.07 percent points higher than the rate recorded in January 2020 (12.13) percent.
Increases were recorded in all COICOP divisions that yielded the Headline index.
On month-on-month basis, the Headline index increased by 0.79 percent in February 2020. This is 0.08 percent rate lower than the rate recorded in January 2020 (0.87) percent.