Nigeria’s Inflation Rate Surges to 11.98 percent – NBS

Nigeria's inflation rate

The Consumer Price Index, (CPI) which measures inflation further increased to 11.98 percent (year-on-year) in December compared to 11.85 percent in the preceding month, according to the National Bureau of Statistics (NBS).

Food inflation rose to 14.67 percent in December compared to 14.48 percent in November.

According to the CPI figures for December which was released Friday by the statistical agency, core inflation, which excludes the prices of volatile agricultural produce also increased to 9.33 percent compared to 8.99 percent in the preceding month.

Details later….

Source: THISDAY