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Market Digest Nigeria

Economy

Nigeria’s inflation rate rises to 17.33%

inflation

JUST IN… Nigeria’s inflation rate rises to 17.33% in February 2021, highest in four years

inflation

Nigeria’s inflation rose to 17.33 percent in February 2021. This is 0.86 percent points higher than the 16.47 percent rate recorded in January 2021 16.47 percent.

Food hike rose by 21.79 percent in February 2021 compared to 20.57 percent in January 2021.

This rise in the food index was caused by increases in prices of Bread and cereals, Potatoes, yam and other tubers, Meat, Food products n.e.c, Fruits, Vegetable, Fish and Oils and fats.

The urban inflation rate increased by 17.92 percent in February 2021 from 17.03 percent recorded in January 2021, while the rural hike rate increased by 16.77 percent in February 2021 from 15.92 percent in January 2021

More details soon…

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