Breaking: Nigeria’s inflation rises to 17.33% in February 2021, highest in four years

Statistics from the National Bureau of Statistics (NBS) has revealed that Nigeria’s inflation rate rose to 17.33 per cent in February 2021, from 16.47 per cent recorded in January, even as the food inflation up by 108 per cent since 2015.

The figure represents the highest inflation rate recorded in four years.

This is according to the latest inflation report published by the National Bureau of Statistics (NBS).

Food inflation rose to 21.79 per cent in February 2021 compared to 20.57 per cent recorded in January 2021.

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