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January Index: Inflation Crossed Average Five Times In 11yrs
An analysis by Twentyten Daily has shown that at the beginning of every year, between 2012 and 2022, Nigeria’s Inflation rate crossed an average of 12.43 percent five times. According to data collected from the National Bureau of Statistics report on Consumer Perception Index, that measures the monthly rate of inflation, in January for the…
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Nigeria’s Inflation Rate Drops
Nigeria’s inflation rate has dropped to 17.93 percent in May from 18.12% in April 2021. This is according to the ‘Consumer Price Index Report’, released by the National Bureau of Statistics. On a month-on-month basis, the headline index increased by 1.01 percent in May 2021. This is 0.04 percentage points higher than the rate recorded…
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ANALYSIS: Food Inflation Drops 7 Months After Increase
For almost two years, Nigeria had faced a gradual increase in the prices of food products. The National Bureau of Statistics reported in March 2021, that the food price Index peaked to 22.95 percent. According to the Bureau, Nigeria has maintained a two digit Inflation rate since June 2015 when the record rose to 10.04…