Nigeria, Feb. 16 -- Nigeria's headline inflation rose to 16.47 per cent in January 2021, the National Bureau of Statistics said on Tuesday.

Buoyed by galloping food prices, food inflation also rose to 20.57 per cent in January, from 19.56 per cent in December.

Inflation soared at 15.75 per cent in December, its highest level in 32 months, with the 0.86 per cent month-on-month increase marking the 16th consecutive month inflation would increase in Nigeria.

Earlier in November, it touched 14.89 per cent.

The new increase signals that there is a long way towards recovery for Africa's largest economy, which slipped into its second recession in four years and the worst in nearly four decades in the third quarter of 2020.

There will also b...