Focus On Food Hoarders As Inflation Hikes, Iocs Fx Proceeds Reviewed
Channel: Plus TV Africa
Date: 2024-02-16

In the latest inflation report released by the National Bureau of Statistics (NBS), Nigeria’s inflation rate for January 2024 has surged to 29.90%, marking a significant increase from the 28.92% recorded in the preceding month.

The data reveals a notable uptick in the headline inflation rate for January 2024 by 0.98% points when juxtaposed with December 2023’s figures.

: Delving into a year-on-year comparison, the inflation rate for January 2023 stood at 21.82%, showcasing a considerable leap of 8.08% points by January 2024, underscoring an escalated headline inflation rate over the same period in the preceding year.

This increment elucidates a heightened rise in the average price level for January 2024 relative to the increase noted in December 2023, highlighting the growing inflationary pressures within the nation’s economy.
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