Data released by the National Bureau of Statistics, NBS, has announced that annual inflation in Nigeria rose in January to 18.72 percent from 18.55 percent in December, signifying a continued hike in goods and services.
It is the highest inflation point for the country since the index started rising several months ago.
A separate food index showed inflation at 17.82 percent from 17.39 percent in December, the statistics office said.
This implies that the price of food materials keep getting more and more expensive.
The majority of Nigerians live below $3 per day. This will make things more unbearable for them.