Nigeria’s inflation climbs to 12.13% in January - NBS- NBS releases a new report indicating that the inflation rate rose to 12.13% in January 2020 -The bureau said that it is 0.15 % points higher than the rate recorded in December 2019 at 11.98% - According to NBS’ report, month-on-month basis, the headline index increased by 0.87% in January 2020 A report by the National Bureau of Statistics (NBS) released on Tuesday, February 18, indicates that Nigeria's inflation rate has risen to 12.13%. The data released by the bureau on its website showed that the January 2020 inflation rate was 0.15% points higher than the 11.98% recorded in December. On a month-on-month basis, the report noted that the headline index increased by 0.87% under the review period. It said the percentage of 0.02% is higher than the rate of 0.85% which was recorded in December 2019. The statement read: “The percentage change in the average composite CPI for the 12 months period ending January 2020, over the average of the CPI for the previous 12 months period was 11.46 percent, showing 0.06 percent point from 11.40 percent recorded in December 2019. “The urban inflation rate increased from 12.62 percent in December to 12.78 percent year on year in January 2020, while the rural inflation rate increased from 11.41 percent in December 2019 to 11.54 percent in January 2020." According to the report, oil and fats, fish, meat, potatoes, yam, and other tubers, as well as bread and cereals, recorded the highest increase On a year-on-year basis, food inflation was recorded at 14.85% and while core inflation stood at 9.35%. PAY ATTENTION: Get the Latest Nigerian News Anywhere 24/7. Spend less on the Internet! Meanwhile, Legit.ng previously reported that the NBS, in one of its previous quarterly reports, said the country’s inflation rate stood at 11.98% in December 2019, making it the highest inflation index in 19 months. The data released by the bureau on Friday, January 17, showed that the December 2019 inflation rate was 0.13% points higher than the 11.85% recorded in November. NAIJ.com (naija.ng) -> Legit.ng Same great journalism, upgraded for better service! Laolu Akande Speaks on How Presidency is Tackling Economy | Legit TV Source: Legit.ng - NBS releases a new report indicating that the inflation rate rose to 12.13% in January 2020 -The bureau said that it is 0.15 % points higher than the rate recorded in December 2019 at 11.98% - According to NBS’ report, month-on-month basis, the headline index increased by 0.87% in January 2020 PAY ATTENTION: Legit.ng NAIJ.com (naija.ng) -> Legit.ng