Nigeria’s Inflation Hits 15.75%

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By James Emejo

The Consumer Price Index, (CPI) which measures inflation increased by 15.75 per cent (year-on-year) in
December compared to 14.48 per cent in the preceeding month, according to the National Bureau of Statistics (NBS).

According to the CPI figures for December published Friday by the statistical agency, food inflation rose by 19.56 per cent in December compared to 18.30 per cent in November.

The increase in the food index was caused by rise in the prices of bread and cereals, potatoes, yam and other tubers, meat, fruits, vegetable, fish and oils and fats.

The All Items less farm produce’ or core inflation, which excludes the prices of volatile agricultural produce, stood at 11.37 per cent in December, up by 0.32 per cent when compared with 11.05 per cent recorded in November.

Details later…