Nigeria experienced a sharp rise in its headline inflation rate in February 2024, climbing to 31.70%, a significant increase from January 2024’s rate of 29.90%, marking a rise of 1.80%.<\/p>\n
Comparatively, February 2024’s inflation rate surged by 9.79% from the previous year, contrasting starkly with the 21.91% recorded in February 2023.<\/p>\n
Additionally, the month-on-month headline inflation rate for February 2024 rose to 3.12%, up by 0.48% from January 2024’s rate of 2.64%.<\/p>\n
The uptrend in food inflation, which reached 37.92% in February, further underscores the worrying trend of accelerating average prices during the month.<\/p>\n
These statistics suggest a faster pace of price escalation in February 2024 compared to January 2024, prompting speculation about a potential rate hike in the upcoming Monetary Policy Committee (MPC) meeting.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nigeria experienced a sharp rise in its headline inflation rate in February 2024, climbing to 31.70%, a significant increase from January 2024’s rate of 29.90%, marking a rise of 1.80%. Comparatively, February 2024’s inflation rate surged by 9.79% from the previous year, contrasting starkly with the 21.91% recorded in February 2023. Additionally, the month-on-month headline […]<\/p>\n","protected":false},"author":3,"featured_media":4364,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"none","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"both","_seopress_redirections_param":"","_seopress_redirections_type":301,"_seopress_analysis_target_kw":"","jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"0","show_post_date":"1","post_date_format":"ago","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"37","hide":""},"jnews_override_bookmark_settings":{"override_bookmark_button":"0","override_show_bookmark_button":"0"},"jnews_social_meta":{"fb_title":"","fb_description":"","fb_image":"","twitter_title":"","twitter_description":"","twitter_image":""},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[37,35],"tags":[],"class_list":["post-4361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/posts\/4361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/comments?post=4361"}],"version-history":[{"count":1,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/posts\/4361\/revisions"}],"predecessor-version":[{"id":4365,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/posts\/4361\/revisions\/4365"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/media\/4364"}],"wp:attachment":[{"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/media?parent=4361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/categories?post=4361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/tags?post=4361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}