BREAKING: Nigeria's annual inflation rate up after eight-month decline

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Inflation rose to 15.63 per cent in December 2021 compared to 15.40 per cent in November, the National Bureau of Statistics announced Monday.

Nigeria’s annual inflation rate rose the first time in eight months after recording a consecutive fall for that long.

But comparing the rate to the year-on-year performance in the previous months shows that the rate has increased. According to the NBS, this rise in the food index was caused by increases in prices of bread and cereals, food products, meat, fish, potatoes, yam and other tubers, soft drinks and fruits.

 

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