Members of the Organised Private Sector (OPS) have expressed worries over the growing inflationary trend as evidenced by the Consumer Price Index (CPI) rising in March to 18.17 per cent, the highest since 2017. This is compared to 17.33 per cent the CPI was in previous month.
The latest inflation figures was released yesterday by the National Bureau of Statistics (NBS), the OPS members reacting to it said time had come for the Federal Government to institute emergency strategies to reverse the trend to protect the economy, businesses and individuals from inflationary deleterious effects. The OPS members, in separate interviews, attributed the high inflationary trend to insecurity, transportation cost, increased energy tariffs and structural bottlenecks that constrained production in the Nigerian economy.
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