Nigeria’s inflation soars to 15.75%, highest since 2017

Nigeria’s inflation

Nigeria’s Inflation rate now stands at  15.75 per cent, the highest since 2017.

This is according to the data released by the Bureau of Statistics.

Inflation stood at 15.75 per cent in December, compared with 14.89 per cent in November, marking the 16th straight month of increases.

The consumer inflation rate in December was the highest since November 2017, when it stood at 15.90 per cent.

The NBS said the composite food index rose by 19.56 per cent in December from 18.30 percent in November.

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“This rise in the food index was caused by increases in prices of bread and cereals, potatoes, yam, and other tubers, meat, fruits, vegetable, fish and oils, and fats,” it added.

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