The inflation rate has moved to 31.70 per cent in February, according to the latest data by the National Bureau of Statistics (NBS).
The Bureau released the figure on Friday, with the latest data showing a rise from the 29.90 per cent recorded in January 2024.
According to the ‘Consumer Price Index and Inflation Report’ for February obtained journalists, the hike represented a 1.80 per cent increase from what was recorded in January. The data showed that on a year-on-year basis, Nigeria’s headline inflation rate was 9.79 per cent higher, compared to 21.91 per cent recorded in February 2023.
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