Nigeria’s consumer price index has increased to 15.70 per cent for the month of February.
The National Bureau of Statistics in a report state that this is 1.63 per cent points lower compared to the rate recorded in February 2021per cent, indicative that the headline inflation rate slowed down in February when compared to the same month in the previous year.
There were increases in all COICOP divisions that yielded the Headline index. On a month-on-month basis, the Headline index increased to 1.63 per cent in February 2022, this is a 0.16 per cent rate higher than the rate recorded in January 2022 per cent.