Inflation Rises Further to 11.85%

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By James Emejo in Abuja

The Consumer Price Index (CPI), which measures inflation, further increased to 11.85 per cent (year-on-year) in November compared to 11.61 per cent in the preceding month, according to the National Bureau of Statistics (NBS).

The NBS stated that increases were recorded in all the divisions that determine the headline index.

Food inflation rose to 14.48 per cent, compared to 14.09 per cent in the preceding month.

Core inflation also increased by 0.11 per cent to 8.99 per cent in November.

On month-on-month basis, the headline index increased by 1.02 per cent in November, which is 0.05 per cent rate lower than the 1.07 per cent recorded in October.

Details later…