Nigeria’s inflation rate rises to 21.91%
The National Bureau of Statistics, NBS, said the country’s headline inflation rate rose to 21.91 per cent in February 2023 compared to 21.82 last month, indicating an increase of 0.09 per cent.
The bureau disclosed this on Wednesday in its report titled ‘Consumer Price Index (February 2023).’
The report comes as the country is beginning to witness a sign of relief after two months of naira scarcity occasioned by the naira redesign policy of the Central Bank of Nigeria, CBN.
“In February 2023, the headline inflation rate rose to 21.91% compared to January 2023, which was 21.82%,” it stated.
“Looking at the trend, the February 2023 inflation rate showed an increase of 0.09% points when compared to January 2023 headline inflation rate.”