The National Consumer Price Index (NCPI) for the month of February 2023 was recorded at 53.6%, as measured by the Year-on-Year change, the Department of Census and Statistics (DCS) revealed in its latest report.
This is a slight increase in comparison to the headline inflation of 53.2% recorded in January 2023.
Accordingly, contributions to the inflation recorded in February from the food group and non-food group stood at 22.1% and 31.5%, respectively.
Food prices dropped from 53.6% to 49.0% from January 2023 to February 2023, while non-food inflation increased to 57.4% from 52.9%.
Meanwhile, core inflation, which reflects the underlying inflation by excluding volatile items of food, energy and transport groups in the economy, had reduced to 20.1% last month, from 52.0% recorded in January this year.
Attached below is the relevant report issued by the DCS;
NCPI Feb 2023 by Adaderana Online on Scribd
