CBN’s MPC Blames Rising Inflation on Fuel, Hikes In Electricity Tariff

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has blamed the hike in energy prices for the rising inflation rate experienced within the country in February 2022.

In a communique released after the MPC, the central bank body expressed concerns towards the rising inflation which has increased cost of living for Nigerians.

In the report, inflation was up from 15.60% in January 2022, to 15.70% in February 2022, posting a year-on-year growth, while keeping Nigeria in the double-digit inflation group.

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