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Nigeria inflation hits 12.2 percent.

Nigeria inflation hits 12.2 percent.

The latest release National Bureau of Statistics (NBS) shows that headline inflation rate in Nigeria rose from 12.1 in January 2029 to 12.2 percent in February of 2020 from 12. The is highest the rate has risen since April of 2018.

Food inflation rose to 14.9 percent from 14.85 percent in January. This rise was expected borders closure continues to have impact on the country’s economy.

There have been fears lately that the outbreak of COVID- 19 may further compound the country’s economy woes and push it back into recession.

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