Inflation Rate Rises For Fifth Straight Month

Nigeria’s inflation rate has increased, for the fifth straight month, from 11.98% recorded in December 2019 to 12.13% in January 2020.

Nigeria’s inflation rate has increased, for the fifth straight month, 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%.

The national bureau of statistics report for month on month inflation shows that the 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 accelerated from 14.67% reported in December 2019 to 14.85% in January 2020, highest since March 2018.

 

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