– Indices have shown that there is an increase in Nigeria’s inflation from 18.33% in October to 18.48% in November
– The rise, National Bureau of Statistics said was mostly affected by items needed for the Christmas and New Year celebration
– These items include clothing, liquid fuels, for transportation; passenger transportation by air, motorcycle, shoes and other footwear
Nigeria’s inflation increased from 18.33% in October to 18.48% in November
Inflation in Nigeria has continued to rise, the National Bureau of Statistics (NBS) has said. The Bureau in its latest consumer price index released on Tuesday, December 15, said inflation in Nigeria went from 18.33% in October to 18.48% in November.
Premium Times reports that this shows a 0.78% fall between October and November as compared to a 0.83% rise between October and September.
The report also showed a year-on-year rise of 18.1%, meaning an increase in price of items were recorded
The reported noted that some of the items affected by the rise, especially those needed for the festive period include: liquid fuels, for transportation; passenger transportation by air, motorcycle, shoes and other footwear.
Others include major food items like: bread and cereals, oil and fats, fish and meat.
However, other beverages like soft drink and sort witnessed the slowest increase rate at 7.76% from 2015 to 2016.Also comparing urban and rural indices the report showed a 19.9% increase in November in urban areas against 21.1 in rural index, this is also a slight rise from 16.9 per cent in October to 17.1 per cent in November.
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