BREAK: Inflation rate in Nigeria hits 29.90% in January amid rising food prices.

Nigeria's inflation rose to 29.90 percent in January 2024 from 28.92 percent recorded in December 2023 amid rising food prices.

The National Bureau of Statistics, NBS, published this on Thursday in its latest Consumer Price Index.

According to the bureau, this indicator is 0.98 percent higher than the 28.92 percent recorded in December 2023.

Similarly, NBS said, on annual basis, headline inflation was 8.08 percentage points higher than the January 2023 figure of 21.82 percent.

“On an annual basis, headline inflation in January 2024 was 8.08 percent higher than January 2023's 21.82 percent.

Details coming soon…

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