Economy

Inflation rate hits 15.75% in December– highest in 39 months

Nigeria’s headline inflation increased for the 16th consecutive month, according to the latest inflation statistics by the National Bureau of Statistics (NBS) on Friday.

This is the highest in 35 months.

The inflation rate stood at 15.75% in December 2020, a 0.86% higher than 14.89% in November.

Inflation measures the rate at which prices increase over time.

Food inflation recorded an increase of 1.26% from 18.30% in November 2020 to 19.56% in December 2020,

Food inflation measures the rate at which food prices increase over time.

“December 2020 CPI/Inflation report published @ http://nigerianstat.gov.ng/download/1213

YEAR on YEAR:
Headline Inflation at 15.75% in Dec 2020 from 14.89% in Nov 2020. Food inflation at 19.56% in Dec 2020 from 18.30% in Nov 2020. Core Inflation at 11.37% in Dec 2020 from 11.05% in Nov 2020″

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