Nigerian’s inflation rises amid cash crunch

March 16, 2023
43 Views

Advertisement

BY SULE TAHIR.

Nigeria’s inflation rate climbed to a new 17-year high of 21.91% in February 2023 on the backdrop of the new naira note design and uncertainties relating to the presidential election.

This was contained in the National Bureau of Statistics (NBS) Consumer Price Index (CPI) report published on Wednesday, March 15, 2023.

This comes amid the uncertainties being faced by Nigerians due to the scarcity of the redesigned Naira notes.

The inflation rate for February is 0.09% point increase compared to the 21.82% recorded in the previous month.

Similarly, food inflation rose to 24.35% year-on-year in the review month from 24.32% recorded in the previous month.

Advertisement

You may be interested

Basketball: James Leads Team USA To Victory Over Germany In Final Pre-Olympics Game
Sports
Sports

Basketball: James Leads Team USA To Victory Over Germany In Final Pre-Olympics Game

Webby - July 23, 2024

Team USA’s power forward, LeBron James, rescued his team from Germany’s pressure, scoring 11 consecutive points in the final minutes…

Arteta Opens Up On Calafiori Transfer
Sports
1 views
Sports
1 views

Arteta Opens Up On Calafiori Transfer

Webby - July 22, 2024

Mikel Arteta has opened up about Arsenal’s link to Italian defender Riccardo Calafiori.The Bologna defender has been linked with a…

Sports
4 views

Five Of The Best Portable Football Gaming Experiences

Webby - July 22, 2024

(Image via https://x.com/OutsiderGaming4)These days, people are always on the move. As such, it can be tough to find the time…

Leave a Comment

Your email address will not be published.