Inflation rises to 16.5%

In January 2021, Nigeria’s inflation rate rose to sixteen point four-seven percent.

National Bureau of Statistics which confirmed this in its data, noted that it was a zero point seven-two percent increase from that of December.

According to the report, the consumer price index which measures inflation increased by sixteen point four-seven percent year-on-year in January 2021.

It noted the percentage change in the average composite consumer price index for the twelve months period ending January 2021, over the average of the index for the previous twelve months period was thirteen point six percent.