Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 - Business

Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,152,612 members, 7,816,515 topics. Date: Friday, 03 May 2024 at 12:29 PM

Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 (6450 Views)

Inflation Soars To 21.82% Amid Naira Redesign / Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge / Price Of Diesel Jumps By 4.91% In May – NBS (2) (3) (4)

(1) (2) (Reply) (Go Down)

Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by politicoNG: 1:01pm On Mar 15, 2023

Nigeria’s inflation rate climbed to a new 17-year high of 21.91% in February 2023, representing a 0.09% point increase when compared to the 21.82% recorded in the previous month.

This is according to the recently released Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS).

The rise in the inflation rate is following a significant cash crunch experienced across the country on the backdrop of the new naira note design and uncertainties relating to the presidential election.

In the same vein, food inflation rose to 24.35% year-on-year in the review month from 24.32% recorded in the previous month. On the other hand, core inflation dropped to 18.84% from 19.16%.

According to the NBS, the rise in food inflation was caused by increases in prices of Oil and Fat, Bread and Cereals, Potatoes, Yam and Other Tubers, Fish, Fruits, Meat, Vegetable, and Food Products.

https://nairametrics.com/2023/03/15/nigerias-inflation-rate-rises-further-to-21-91-in-february-2023/?amp=1

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by TheboyGhost(m): 1:20pm On Mar 15, 2023

Sorry I laughed

😂😂😂😂

Now that's better...

4 Likes

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by nairaland2: 2:09pm On Mar 15, 2023

With APC re-elected?
This inflation would touch the sky.

Get ready for season 2 of unending drama at the detriment of poor and dying citizens.

BTW,

GeneralPula:

Relax..

He’s not in Aso rock yet..

By Nigerian presidential standard, he's already a president,

Rig it or leave it they say!

13 Likes

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by Wealthoptulent(m): 2:10pm On Mar 15, 2023

Naw ao

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by Doglover123456: 2:10pm On Mar 15, 2023

Imma book this space

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by MetroLane: 2:10pm On Mar 15, 2023

I will make #1 = $1

Na the result be this...... Serious Inflation.

Despite all the Economic Reforms and meetings that PMB wasted Taxpayers money to attend, this is the result.

Inflation haven't even started, with the way things are going, very soon inflation will be so high that it will be dragging space with Aeroplane in the sky.

TheMaterialist:
Inflation is not the price of goods going up,

It is simply the value of the Naira going down.

Dey Play.

You should know at this stage that they both complement each other.

It is cause and effect. You can't single out one as the definition of Inflation and leave the other.

TheMaterialist:

What solution do you propose?

***Apart from oil, which other major product are we exporting, the over reliance on oil is really hurting the economy.
*** Do we have a functioning refinery? If no build one or two
*** Address the issue of Insecurity
*** Government Economic policies of recent have really been hurting the naira, they need to do better and implement better policies not all these rubbish policies that have no benefit to an average Nigerian.
*** Electricity issue is really killing businesses in Nigeria also.

I could keep going on and on, but I'll stop here.

19 Likes 5 Shares

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by mannobi(m): 2:11pm On Mar 15, 2023

As expected. We don't know the amount of damage Malami and Emefiele has caused on our economy until in three months time. Those two are saboteurs. They should rot in jail for impoverishing the nation

3 Likes

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by lamdbull: 2:11pm On Mar 15, 2023

Mmmm

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by Wizpa(m): 2:11pm On Mar 15, 2023

Yoruba people are the most tribalistic set of people in Nigeria, I knew what I faced growing up with Yoruba adults just because my Yoruba mum married my dad 'Delta ibo'.

Tinubu might do well as a president but that doesn't mean Yoruba people will stop being tribalistic... they have the worst set of mouth when it comes to insults.

24 Likes 3 Shares

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by Neckpresser101: 2:11pm On Mar 15, 2023

E no go better for those who vote APC again sad

6 Likes

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by datola: 2:11pm On Mar 15, 2023

Courtesy Emefiele and Buahari.

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by EKONGKING: 2:12pm On Mar 15, 2023

Buhari is worst thing to happen to Nigeria or to any country for that matter.

Look at Modi of India within 9 years he completely changed the country profile in postive direction while Buhari changed Nigerian direction towards negativity.

6 Likes 1 Share

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by Ogonimilitant(m): 2:13pm On Mar 15, 2023

This happended immediately they announced the criminal as the president elect.

Thank God Obi is coming

9 Likes

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by Nobody: 2:13pm On Mar 15, 2023

Lol...a clueless party is leading a country so what do you expect? Nigerians must reclaim their mandate

4 Likes 1 Share

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by Blaze14k: 2:13pm On Mar 15, 2023

According to agbado urchins tinupoo will reduce the inflation. He is a master strategist 😂😂

12 Likes

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by Fut9ure: 2:14pm On Mar 15, 2023

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by ojesymsym: 2:14pm On Mar 15, 2023

Thanks to Emefiele and his cashless abi na moneyless policy

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by TrumpDonald2: 2:14pm On Mar 15, 2023

MetroLane:
I will make #1 = $1

Na the result be this...... Serious Inflation.

Despite all the Economic Reforms and meetings that PMB wasted Taxpayers money to attend, this is the result.

My brother, the matter tire me. And it's on this ground that urchins claim that APC was massively voted for in the just concluded election. Bunch of lunatics.

2 Likes

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by benalvino3: 2:15pm On Mar 15, 2023

Should I quit my job, buy a flight ticket and move back to the UK? Hell no. Job security and the ability to save loads of my earnings is more important.

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by Equity15(m): 2:15pm On Mar 15, 2023

It has not passed 22%? Dano sachet of 50 is almost 120. I was so shocked as it's been a while i bought sachet milk..omoh

3 Likes

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by Racoon(m): 2:15pm On Mar 15, 2023

Thought the economy was allegedly recovering according the clueless urchins and miscreants?

2 Likes

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by GreSaew: 2:16pm On Mar 15, 2023

Oh Lord please help the common man. We are tired of incessant increase in prices of items for survival cry

3 Likes 1 Share

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by seyicodes(m): 2:16pm On Mar 15, 2023

Inn

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by Eriokanmi: 2:16pm On Mar 15, 2023

Just 21.91%? cheesy

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by Nobody: 2:16pm On Mar 15, 2023

Inflation is not the price of goods going up,

It is simply the value of the Naira going down.

1 Like

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by GeneralPula: 2:17pm On Mar 15, 2023

nairaland2:
With APC re-elected?
This inflation would touch the sky.

Get ready for season 2 of unending drama at the detriment of poor and dying citizens.

BTW,

Ai is taking over the trading world with very unique results, Join "Corg Ai" on telegram and get involved with their Day Trading System.

I haven't seen it better in a long time than this.

Relax..

He’s not in Aso rock yet..

1 Like

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by Oyindamolah: 2:18pm On Mar 15, 2023

In January, Inflation Drops First Time In 11 Months: From 21.47% To 21.34%. In less than 30 days, we have a sharp increase despite the claim by CBN that the money in circulation is fuelling inflation

1 Like

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by Realists(m): 2:18pm On Mar 15, 2023

MetroLane:
I will make #1 = $1

Na the result be this...... Serious Inflation.

Despite all the Economic Reforms and meetings that PMB wasted Taxpayers money to attend, this is the result.

Inflation haven't even started, with the way things are going, very soon inflation will be so high that it will be dragging space with Aeroplane in the sky.

The truth is very bitter.

1 Like

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by iwaeda: 2:19pm On Mar 15, 2023

politicoNG:

https://nairametrics.com/2023/03/15/nigerias-inflation-rate-rises-further-to-21-91-in-february-2023/?amp=1

APC will show Nigetia shege with draconian rules. Everything under Buhari is not just failure but abysmal. grin

1 Like

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by Anunakeeh: 2:21pm On Mar 15, 2023

If E like, Make E reach 100%.

It's none of my fvcking business.

Nonsense!!!

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by Bonjelomo: 2:22pm On Mar 15, 2023

This contraption called Neijiriya!
How can inflation be rising when naira is out of circulation?

1 Like

Re: Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 by BloomingDale(f): 2:23pm On Mar 15, 2023

(1) (2) (Reply)

Starting A Weavon-on And Attachment Biz / Diamond Bank Divests Fully From UK Subsidiary / Take Up My Potato/plantain Chips Business

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 42
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.