Bad news as NBC reports Nigeria's inflation hits 16.47 percent

Bad news as NBC reports Nigeria's inflation hits 16.47 percent

- Nigeria's inflation is now at 16.47% according to the National Bureau of Statistics

- Also, food inflation rose to 20.57% in January, from 19.56% in December

- Many Nigerians have however reacted to the latest development

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The National Bureau of Statistics (NBS) on Tuesday, February 16, released the inflation rate of the country.

According to the NBS, the country's inflation rose to 16.47% in January 2021, adding that food inflation as well rose to 20.57% in January, from 19.56% in December.

Bad news as NBC reports that Nigeria inflation hits 16.47 percent

Nigeria's inflation has hit 16.47 per cent according to NBS. Photo: Femi Adesina.
Source: Facebook

Disclosing this on his Twitter page, statistician general of the Federation/CEO Nigerian National Bureau of Statistics Dr Yemi Kale wrote:

"Headline Inflation at 16.47% in January 2021 from 15.75% in Dec 2020. Food inflation at 20.57% in Jan 2021 from 19.56% in Dec 2020. Core Inflation at 11.85% in Jan 2021 from 11.37% in Dec 2020."
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"Headline Inflation at 1.49% in Jan 2021 from 1.61% in Dec 2020. Food inflation at 1.83% in Jan 2021 from 2.05% in Dec 2020. Core Inflation at 1.26% in Jan 2021 from 1.10% in Dec 2020."

Meanwhile, recall that Legit.ng reported that NBS disclosed that Nigeria’s inflation rose to 15.75 % in December 2020, its highest level in 32 months.

According to figures released by Yemi Kale, prices rose by 0.86 % from the 14.89 % recorded in November 2020.

The data also showed that an increase in food prices pushed the food index higher by 19.56 %, while core inflation inched up by 0.32 % to 11.37 % in December 2020.

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Aanu Adegun is a politics and current affairs content editor at Legit.ng with over 7 years of experience in both digital and traditional media. A graduate of English Studies from Adekunle Ajasin University, Akungba Akoko, Ondo state, Aanu started his journalism career as a features writer. Aanu, who is also a creative writer has written books and children magazines. He once anchored some specialised pages of a national newspaper. Aanu is also a satirist.

Source: Legit.ng

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