Nigeria inflation quickens first time in 9 months

Nigeria’s economy ranks low on weaker currency

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.

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

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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%.

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Onyinye Nwachukwu

Onyinye Nwachukwu is the Abuja Bureau Chief of BusinessDay, overseeing coverage across Abuja and Northern Nigeria. With more than two decades of experience in economic and financial journalism, she reports on business, policy, and market trends, linking local developments to the global economy. A fellow of the International Monetary Fund (IMF) and recipient of the P. Vishwanathan Memorial Award for Excellence in Financial Journalism, she is known for her insightful storytelling and interviews with senior policymakers, diplomats, and business leaders. Well traveled and globally minded, Onyinye brings depth and international perspective to her reporting.