Food inflation hits 21.79% as Nigeria’s inflation soars to 17.33%

OBINNA EZUGWU

The consumer price index, which measures the rate of increase in the price of goods and services, increased to 17.33 percent in February according to the CPI/Inflation report released by the National Bureau of Statistics (NBS) released on Tuesday.

This represents highest figure in four years.

The report said food inflation stood at 21.79 percent, the highest point since the 2009 data series began.

”All items less farm produce” or Core inflation, which excludes the prices of volatile agricultural produce stood at 12.38% in February 2021, up by 0.53% when compared with 11.85% recorded in January 2021,” the report said.

More later…