February 2024 Inflation review – Inflation nudges to 31.7%, a new 27-year high

Analyst: Ibukun Omoyeni*i.omoyeni@vetiva.com Inflation nudges to 31.7%, a new 27-year high Headline inflation rose by +180bps to 31.70% y/y in February (January: 29.90% y/y). This outturn is a 40bps print above Bloomberg consensus’ estimate of 31.30% y/y (Vetiva: 31.12% y/y). We attribute the surge to sustained security challenges in food producing states. On a monthly…