Inflation Rises to 16.47%

3

By James Emejo

The Consumer Price Index (CPI), which measures inflation, increased by 16.47 per cent (year-on-year) in January compared to 15.75 per cent in December, according to the National Bureau of Statistics (NBS).

The NBS blamed the 0.71 per centage points increase on higher food and commodity prices.

According to the CPI report for January, which was released Tuesday by the statistical agency, the composite food index rose by 20.57 per cent in the period under review compared to 19.56 per cent in the preceding month.

Details later…