Nigeria’s Inflation Hits 15.92% As Food, Energy Prices Soar

Nigeria’s consumer price inflation rose in March amid soaring food prices, the National Bureau of Statistics (NBS) said in its report Friday.

The consumer price index (CPI), which measures inflation, increased to 15.92 percent in March from 15.70 percent recorded in February. It is the highest rate in five months.

The increase was recorded against the backdrop of increase in prices of gas, bread, cereals, liquid fuel and other food products.

In recent weeks, Nigeria suffered incessant grid collapse which disrupted electricity supply and forced many businesses and households to spend more on alternative energy sources.

In the same vein, widespread insecurity especially in northern Nigeria has continued to threaten Nigeria’s food production and supply chains.

-Premium Times

About Don Saint

PR Guru / Author / Promoter / Controversial Writer / Hip Hop Artiste / Actor / Human Rights Activist. The First Nigerian Hip Hop Artiste to obtain a Masters Degree (M.A) in Arts ( Religion & Human Relations). The author of one of the most controversial books in Nigeria; "Emancipation from Masturbation". With over 12 Movies and 3 Musical albums since 2003. Former Events Manager at Silverbird’s Rhythm Fm Awka Station till 2010. For more info. Call : 08033239298.

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