Inflation rises to 12.1 pct in March

Channels Television  
Updated April 25, 2012

Latest figures from the National Bureau of Statistics show that Nigeria’s consumer inflation rose to 12.1 percent year-on-year in March, compared with 11.9 percent in February.

The bureau says the new figures were driven by higher food prices with food inflation rising to 11.8 percent year-on-year in March, compared with a revised figure of 9.7 percent in February.

The governor of the Central Bank of Nigeria, Lamido Sanusi expects inflation to rise to around 14-15 percent by the middle of this year, due to the partial removal of fuel subsidies in January.