Nigeria's inflation rate hits 18.72 percent

According to the Nigerian Bureau of Statistics, Nigeria's inflation rate has hit 18.72 percent in January 2017 from the 18.55 percent recorded in December 2016.

Premium Times reports that the NBS, however, said that the faster pace of growth in headline inflation, year on year, were bread and cereals; meat, fish, oils and fats; potatoes, yams and other tubers; wine and spirits: clothing materials and accessories. Others are electricity, cooking gas, liquid and solid fuels; motor cars and maintenance; vehicle spare parts and fuels; and lubricants for personal transport equipment as well as passenger transport by road.

Nigerian obviously have been battling with the increase in prices of food and transport in the last few weeks.