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Published On: Wed, Mar 18th, 2020

Nigeria’s Inflation Rate rises to 12.20% -NBS Report released

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By Etuka Sunday

The National Bureau of Statistics (NBS) in its February 2020 Report released yesterday, showed that the consumer price index, (CPI) which measures inflation increased by 12.20 percent (year-on-year).
This is 0.07 percent points higher than the rate recorded in January 2020 (12.13) percent.
NBS said, increases were recorded in all COICOP divisions that yielded the Headline index.
The Bureau said, on month-on-month basis, the Headline index increased by 0.79 percent in February 2020. This is 0.08 percent rate lower than the rate recorded in January 2020 (0.87) percent.
Recall, NBS in its January 2020 report said, the consumer price index, (CPI) which measures inflation increased by 12.13 percent (year-on-year).
This was 0.15 percent points higher than the rate recorded in December 2019 (11.98) percent.
NBS said, on month-on-month basis, the Headline index increased by 0.87 percent in January 2020, this is 0.02 percent rate higher than the rate recorded in December 2019 (0.85) percent.
The Bureau said, the percentage change in the average composite CPI for the twelve months period ending January 2020 over the average of the CPI for the previous twelve months period was 11.46 percent, showing 0.06 percent point from 11.40 percent recorded in December 2019.

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