A separate food price index showed inflation at 14.85% in January, compared with 14.67% in December.
The 12.13 per cent inflation rate represents an increase of 0.15 percentage point over the index recorded in December last year.
The last time Nigeria’s inflation rate was as high as 12.13 per cent was in April 2018 when the CPI rose to 12.48 per cent.
“This is 0.15 per cent points higher than the rate recorded in December 2019 (11.98) per cent.”
On a month-on-month basis, the index increased by 0.87 per cent in January 2020