Inflation rose to 15.63 per cent in December 2021 when put next with 15.40 per cent in November, the National Bureau of Statistics announced Monday.
Nigeria’s annual inflation rate rose the considerable time in eight months after recording a consecutive tumble for that long.
Inflation rose to 15.63 per cent in December 2021 when put next with 15.40 per cent in November, the National Bureau of Statistics announced Monday.
The statistics workplace mentioned the prices of things and services and products, measured by the User Trace Index, increased by 15.63 per cent in December 2021 when when put next with December 2020.
“Here is 0.13 per cent ingredients lower than the rate recorded in December 2020 (15.75) per cent,” it mentioned.
“Here is exhibiting a slowing down in the rate when when put next with the corresponding duration of 2020.
Nonetheless comparing the rate to the yr-on-yr performance in the old months reveals that the rate has increased.
Additionally, comparing the rate of heed alternate between December and November (month-on-month) reveals that the headline index rose by 1.82 per cent in December 2021. The November figure became as soon as 1.08 per cent.
The upward push became as soon as in section pushed by a continued surge in meals inflation.
The NBS mentioned meals inflation, which is the composite meals index, rose by 17.37 per cent in December 2021, down by 2.19 per cent ingredients when when put next with 19.56 per cent in December 2020.
Per the NBS, this rise in the meals index became as soon as attributable to will improve in prices of bread and cereals, meals products, meat, fish, potatoes, yam and varied tubers, tender drinks and fruits.
It added that on a month-on-month basis, the meals sub-index increased by 2.19 per cent in December 2021, up by 1.12 per cent ingredients from 1.07 per cent recorded in November 2021.
“The usual annual rate of alternate of the Meals sub-index for the twelve months ending December 2021 over the old twelve-month practical became as soon as 20.40 per cent, 0.22 per cent ingredients lower from the practical annual rate of alternate recorded in November 2021 (20.62) per cent,” it mentioned.
