Nigeria`s Headline Inflation Drops to 15.6% in January 2022


Alt: = "basket of tomatoes"

Nigeria’s inflation rate dropped marginally to 15.6% in January 2022, representing a reversal from the uptick recorded in the previous month, when it increased to 15.63% in December 2021. 

Food inflation, which accounts for all volatile agricultural produce decreased to 17.13% in the review month, from 17.37% recorded in the previous month. 
Also, the ‘’All items less farm produce’’ or Core inflation, which excludes the prices of volatile agricultural produce stood flat at 13.87% in January 2022, the same as recorded in December 2021.
The highest increases in terms of food were recorded in the prices of Bread and cereals, Food product, Potatoes, yam and other tuber, soft drinks, Oils and fats and fruit. 
The highest increases were recorded in prices of Electricity, Liquid fuel, Wine, Tobacco, Spirit, Solid fuels, Cleaning, repair and hire of clothing, Shoes and other foot wear, Other services in respect of personal transport equipment, other services, and pharmaceutical products.

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