Nigeria’s inflation slowed to 15.31% in January

Nigeria’s inflation slowed to 15.31% in January

For the twelfth month in a row, Africa’s largest economy said its inflation fell to 15.13% in January compared to 15.37% last December.

The National Bureau of Statistics said earlier today that food inflation also saw some significant drop.

The data showed that food price index showed inflation at 18.92 percent in January, compared with 19.42 percent in December.

Nigeria emerged from a tortuous recession in the third quarter of last year after nearly two years of harsh economic conditions that caused Forex drought, hyperinflation of massive job losses.