Business
Just In: Nigeria’s inflation hits 29.90%
On a month-on-month basis report of the latest National Bureau of Statistics (NBS), Nigeria’s inflation rate for January 2024 rose to 29.90% from 28.92% recorded in the previous month
Acvording to the NBS report; “In January 2024, the headline inflation rate increased to 29.90% relative to the December 2023 headline inflation rate which was 28.92%.
“Looking at the movement, the January 2024 headline inflation rate showed an increase of 0.98% points when compared to the December 2023 headline inflation rate. Similarly, on a year-on-year basis, the headline inflation rate was 8.08% points higher compared to the rate recorded in January 2023, which was 21.82%.
,___“This shows that the headline inflation rate (year-on-year basis) increased in January 2024 when compared to the same month in the preceding year (i.e., January 2023).
…..Furthermore, on a month-on-month basis, the headline inflation rate in January 2024 was 2.64%, which was 0.35% higher than the rate recorded in December 2023 (2.29%).
____“This means that in January 2024, the rate of increase in the average price level is more than the rate of increase in the average price level in December 2023.”
The increase shows that the inflation rate in the country is yet to slow down.
-
News6 days ago
Tinubu Gives Fresh Order On Minors’ Treason Case
-
Celebrities7 days ago
Again, VeryDarkMan, Bobrisky Arrested For Different Reasons
-
News3 days ago
Former State Governor Arrested By EFCC (Photo)
-
News5 days ago
FIRS gives update on how to apply for recruitment
-
Metro/Crime6 days ago
Police Arrest Olusegun Tinubu’s Wife Over Alleged Murder
-
Celebrities4 days ago
Actress Ronke Odusanya reveals how her marriage was ruined by friends
-
News2 days ago
Chief of Army Staff, Lagbaja, is dead
-
News11 hours ago
President Tinubu Approves New Appointment