Nigeria’s January Inflation at 15.60%, Down From Uptick

Nigeria’s January Inflation at 15.60%, Down From Uptick

By Sahabi Abdul

Nigeria’s annual inflation was 15.60 percent in January, a retreat from the uptick recorded in the previous month, according to data released by the National Bureau of Statistics.

“This shows that headline inflation rate slowed down in January when compared to the same month in the previous year,” the agency said in a statement on its website. Rises were recorded in all the baskets used to measure the consumer price index.

The food index, which has been the main inflation driver in recent years, slowed to 17.13 percent in January from 17.4 percent in the previous month.