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Nigeria’s Inflation Rate Rises to 21.91% as Cash Scarcity Persists

The percentage represents a 0.09% point increase.

Nigeria’s inflation rate has risen to 21.91%, compared to January 2023 inflation rate which was 21.82%.

The consumer price index (CPI), which measures the rate of change in prices of goods and services has increased with a percentage of 0.09% point.

The inflation rate data is contained the latest CPI report released on Wednesday by the National Bureau of Statistics (NBS).

The increase comes across as the second consecutive rise in the country’s inflation figure this year, as Nigerians struggle to access cash for their daily needs.

By Mosunmola Ogi-olu

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