The Statistician-General of the Federation, Simon Harry, says the present fuel crises being experienced across the nation may have an adverse effect on the inflation rate.
He said this on Tuesday in Abuja, at a media conference to announce the
January 2022 Consumer Price Index (CPI).
Harry said that the fuel crisis would create an artificial shock in the
economy and that the shock was capable of shaking the economy.
He added that because the economy was strongly being driven by the
private sector, the shock may affect a good number of private businesses
as they may not be able to run effectively as expected.
He, however, said that the February inflation rate could not be predicted
based on the present fuel crisis as the numbers were still being collected.
