The Consumer Price Index, (CPI) which measures inflation increased by 12.13 percent (year-on-year) in January 2020, the National Bureau of Statistics, NBS says on Tuesday.

This is 0.15 percent points higher than the rate recorded in December 2019 (11.98) percent.

According to the NBS, on month-on-month basis, the Headline index increased by 0.87 percent in January 2020, which is 0.02 percent rate higher than the rate recorded in December 2019 (0.85) percent.

“The percentage change in the average composite CPI for the twelve months period ending January 2020 over the average of the CPI for the previous twelve months period was 11.46 percent, showing 0.06 percent point from 11.40 percent recorded in December 2019,” the NBS added.

READ ALSO  21.76m Nigerians unemployed in 2020