By G9ija

The inflation rate in Nigeria jumped up to 21.91 percent by February in comparison to January 2023, where the inflation rate stood at 21.82 percent.

This represents a 0.09-point increase.

This was contained in the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Wednesday.

Several factors including the uncertainties attendant to the naira redesign policy and the electioneering activities were said to have contributed to the rise in inflation figures for the period.

According to the NBS, the rise in food inflation was traced to increase in prices of oil and fat, fish, meats, vegetable, yam and other tubers, bread and cereals, and other foods.