Nigeria’s inflation rate rose to 17.33% in February 2021, from 16.47% recorded in the previous month.
This increase represents the highest inflation rate recorded in four years.
Revealing these in its CPI and Inflation Report March 2021, the National Bureau of Statistics (NBS) said the rate is 0.86 percentage points higher than the rate recorded in January 2021 (16.47) percent.
Food inflation rose to 21.79% in February 2021 compared to 20.57% recorded in January 2021.
The ”All items less farm produce” or Core inflation, which excludes the prices of volatile agricultural produce stood at 12.38% in February 2021, up by 0.53% when compared with 11.85% recorded in January 2021.
Also, Increases were recorded in all COICOP divisions that yielded the Headline index.
