Nigeria’s Inflation Rate hits 12.13% in January 2020

The consumer price index, (CPI) which measures inflation increased by 12.13 percent (year-on-year) in January 2020.

This is 0.15 percent points higher than the rate recorded in December 2019 (11.98) percent.

On month-on-month basis, the Headline index increased by 0.87 percent in January 2020, this is 0.02 percent rate higher than the rate recorded in December 2019 (0.85) percent.

The percentage change in the average composite CPI for the twelve months period ending January 2020 over the average of the CPI for the previous twelve months period was 11.46 percent, showing 0.06 percent point from 11.40 percent