The National Bureau of Statistics is gearing up to reveal the latest inflation data on Monday, March 15, 2024. This monthly consumer prices index release is eagerly anticipated by economists and analysts alike.
In February, inflation in Nigeria surged to 31.70 per cent, up from 29.90 per cent in January 2024. CAPE Economic Research and Consulting predicts that the country’s consumer price index will climb even higher to 32.65 per cent in March, reflecting the ongoing economic challenges facing the nation.
Of particular concern is the skyrocketing food inflation rate, which has now reached a staggering 37.92 per cent. This alarming trend has left many Nigerians struggling to cope with the rising cost of living, despite the recent strengthening of the Naira against the Dollar.
As the country grapples with these economic pressures, the upcoming inflation figures are sure to spark further debate and analysis among policymakers and the public alike. Stay tuned for the latest updates on Nigeria’s economic landscape.
