Nigeria’s annual inflation rose to a near four year high of 12.8 per cent in March from 11.4 percent in February, driven by a rise in food prices, the National Bureau of Statistics said.
Africa’s biggest economy is facing its worst economic crisis in decades fueled by the collapse in crude prices, which has slashed government revenues, weakened the currency and caused growth to slow. The economy grew 2.8 per cent last year, its slowest pace in decades.
Food prices, which account for the bulk of the inflation basket, rose by 1.4 per cent points to 12.7 per cent in March, the bureau said on its website.
“The higher price level was reflected in faster increases across all divisions,” the bureau said in a report.
The NBS expects inflation to end the year at 10.16 per cent, above the central bank’s target upper limit of nine percent. The price index ended at 9.55 per cent last year. Click to signup for FREE news updates, latest information and hottest gists everyday
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Change !!
ReplyDeleteThe dividend of change.o to!
ReplyDeleteNa Jonathan caused am! Na him make the price of Gari to rise. All the problems wey you dey see, na Jonathan....If there's no project to commission on May 29, na Jonathan...Yeye APC, useless Government.Well,as events are unfolding...
ReplyDeleteThis must be a PAST Govt/ PDP induced inflation.
ReplyDeleteWhy is the price of goods sabotaging this govt?
Pls, LIER Muhammad probe this inflation.
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