Inflation in Nigeria reaches 21.91% in February 2023

In February 2023, the All-Items Index changed by a monthly percentage of 1.71 percent. According to the National Bureau of Statistics (NBS), Nigeria's headline inflation rate climbed year over year in February 2023 to 21.91 percent. According to the report, the rise in bread and cereal, which increased by 21.67%, was substantially responsible for the increase in the inflation rate. Potatoes, yams, and other tubers are 6.06 percent, vegetables are 5.44 percent, meat is 4.78 percent, and actual and imputed rent is 7.74 percent. In February 2023, the All-Items Index changed by a monthly percentage of 1.71 percent. "This shows a 0.16 percent decline from the 1.87 percent registered in January." ”This means that in February 2023, on average, the general price level was 0.16 per cent lower relative to January 2023.”