Nigeria’s inflation rate surged to 29.90% in January 2024, marking a notable uptick from the previous month’s 28.92%, as per the latest data released by the National Bureau of Statistics (NBS).
The increase underscores a continuing trend of rising inflationary pressures within the country.
According to the NBS report, the inflation rate for January 2024 exhibited a 0.98% point rise compared to December 2023, with an even more substantial increase of 8.08% points compared to January 2023.
Furthermore, on a month-to-month basis, January 2024 saw a 2.64% inflation rate, surpassing the levels observed in December 2023.
