Nigeria’s inflation rate hits highest in 21 months

Nigeria's inflation rate hits record high as food inflation soars
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Nigeria’s inflation rate has increased from 11.98% recorded in December 2019 to 12.13% in January 2020. This is the highest rate recorded in the country since May 2018, which was 11.61%.

According to the NBS report, month on month, inflation rose by 12.13% in January, higher than the rate (11.98%) recorded in December 2019 and 11.85% in November 2019. The food inflation rose from 14.67% reported in December 2019 to 14.85% in January 2020.

Details shortly…..