By Onu Okorie
National Bureau of Statistics, NBS, says that Nigeria’s inflation has again increased to 31.7 percent in February 2024 — up from 29.9 percent in the previous month.
This was part of the report disclosed in its consumer price index CPI report released yesterday in Abuja.
The consumer price index, CPI, which measures the rate of change in prices of goods and services has continued to rise despite tightening the monetary policy by Central Bank of Nigeria CBN as one of measures to control inflation in the country.
According to the bureau, food inflation surged to 37.92 percent in the month under review.
The bureau said the February 2024 headline inflation rate showed an increase of “1.80% points when compared to the January 2023 headline inflation rate.”
