Inflation hits 12.20 percent in February 2020

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Nigeria’s headline inflation has recorded yet another rise to 12.20 percent in February, from the 12.13 percent recorded in January the same year.

A report published by the National Bureau of Statistics on Tuesday revealed that food inflation increased marginally Year on Year to 14.90% in January 2020, compared to the figures obtained (14.85%) in January 2019.

Core Inflation also rose to 9.43% in January 2020 compared to the 9.35% figures in January 2020. Earlier in January data from the NBS showed that food prices forced Nigeria’s inflation for the month to hit 12.13 percent, recording five months of consecutive increase.

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