The consumer price index, which measures inflation increased to 15.60 percent year-on-year in January 2022.
This is 0.87 percent points lower than the rate recorded in January 2021 which stood at 16.47 percent.
The figure shows that the headline inflation rate slowed down in January when compared to the same month in the previous year.
The National Bureau of Statistics made the figures public in its Consumer Price Index report for January 2022 which was released on Tuesday.
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The urban inflation rate increased to 16.17 percent year-on-year in January 2022 from 17.03 percent recorded in January 2021, while rural inflation rate increased to 15.06 percent in January 2022 from 15.92 percent in January 2021.
According to the report added that the corresponding twelve-month year-on-year average percentage change for the urban index is 17.44 percent in January 2022.
Editor – Oloyede Oworu
