Nigeria’s annual inflation jumped to 29.90% in January from 28.92% in December, the Bureau of Statistics announced on Thursday.
According to the statistics agency, increases in food prices accounted for the majority of inflation in the most recent month.Food inflation jumped to 35.41% year on year in January, from 33.93% in December.
Since 2016, the largest economy in Africa has experienced double-digit inflation, which is eating away at savings and incomes.
