Nigeria’s inflation rises to 12.13%

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Nigeria’s inflation rises to 12.13% TuesdayMorning TuesdayThoughts

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Nigeria’s annual inflation accelerated to 12.13% in January from 11.98% in December, the National Bureau of Statistics said on Tuesday.The 12.13 percent inflation rate represents an increase of 0.15 percentage point over the index recorded in December last year.

An analysis of the NBS report revealed that the inflation rate of 12.13 percent is the highest recorded by the economy in the last 22 months. The last time Nigeria’s inflation rate was as high as 12.13 percent was in April 2018 when the CPI rose to 12.48 percent.“Consumer price index, which measures inflation increased by 12.13 percent in January 2020.On a month-on-month basis, the index increased by 0.87 percent in January 2020.

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that's one of the effects of VAT increase. still to come

MBuhari your economic management team lead by FinMinNigeria and cenbank governor are failing their action VAT and 2/3% interest rates on deposit is resulting in inflation

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