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Nigeria’s inflation rate accelerates to 21.91% in February



Coronation Merchant Bank projects 22.2% rise in Nigerian inflation

Nigeria’s consumer price index (CPI), which measures inflation or the rate of change in prices of goods and services, increased to 21.91 percent in February 2023, up from 21.82 percent in the previous month.

The inflation rate data is contained the latest CPI report released on Wednesday by the National Bureau of Statistics (NBS).
The increase comes across as the second consecutive rise in the country’s inflation figure this year, as Nigerians struggle to access cash for their daily needs.

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