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Find all the economic and financial information on our Orishas Direct application to download on Play StoreThe Nigeria Statistics Agency said on Wednesday, February 15, 2023, that the country's inflation rose again in January. It reached 21.82% in annual terms, due to the rise in food inflation.
For 10 consecutive months, inflation has increased in Africa's largest economy. It led to a series of interest rate hikes by the central bank, before dropping to 21.34% in December. For its part, food inflation being the major part of Nigeria's inflation basket increased to 24.32% in January from 23.75% in December. Weak economic growth, rising insecurity, and high inflation are major issues for voters as Nigeria heads to parliamentary and presidential elections this month.
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