Business
Nigeria’s inflation rate rises again as food inflation hits 17.37%
Nigeria’s inflation rate had been on a steady decline in the past 8 months since April 2021, moderating from the highs recorded in the previous year, however latest statistics by the National Bureau of Statistics (NBS) shows inflation in the month of December 2021 rose to 15.63% from 15.4% recorded in November 2021.
Food inflation also rose to 17.37% from 17.21% recorded in the previous month while core inflation moved upward from 13.85% recorded in November 2021 to 13.87%.
READ ALSO: Naira appreciates marginally against Dollar at official window
This rise in the food sub-index was caused by increases in prices of bread and cereals, food products, meat, fish, potatoes, yam and other tubers, soft drinks and fruits.
On the other hand, the highest increases were recorded in prices of Gas, Liquid fuel, Wine, Actual and imputed rentals for housing, Narcotics, Tobacco, Spirit, Cleaning, repair and hire of clothing, Garments, Shoes and other footwear and Clothing materials, other articles of clothing and clothing accessories.
More details shortly…
-
Features1 week agoHow ADC leadership crisis put Atiku’s 2027 ambition at risk
-
Energy1 week agoNNPC plans 5–10% stock market listing, targets 2027 for IPO preparations
-
Business5 days agoDisCos urge Minister to end blame game, apologise to Nigerians over blackouts
-
Latest1 week ago2027: No Court rulings can keep me off the ballot, Atiku insists
-
Health6 days agoStudy links Pfizer COVID-19 vaccine to higher death rates than Moderna shot
-
Latest1 week agoHow internal party disputes could shape the 2027 elections
-
Business7 days agoPower supply to improve in 72 hours as FG moves to restore generation – Tegbe
-
Business4 days agoFuel price: Our eyes on you, FCCPC tells oil marketers