Nigeria inflation quickens first time in 9 months

Nigeria’s headline inflation has accelerated for the first time in 9 months, settling at 15.63% in December 2021.

The National Bureau of Statistics (NBS), in a Consumer Price Index report released on Monday, attributed the marginal increase to higher demand during the Yelutide which pushed prices up.

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The headline inflation is about 02.% higher than the 15.40% in November 2021.

Food inflation settled at 17.37% in December as against 17.21% the previous month.

Core inflation during the period also slightly went up to 13.87% as against 13.885%.

Details shortly