Nigeria’s inflation rises by 11.98 in December for fourth consecutive time

Nigeria’s Consumer Price Index, (CPI) which shows inflation increased by 11.98 percent (year-on-year) in December 2019, according to data from National Bureau of Statistics (NBS) released on Friday morning shows that inflation rose for the fourth consecutive time.

“This is 0.13 percent points higher than the rate recorded in November 2019 (11.85) percent.
On month-on-month basis, the Headline index increased by 0.85 percent in December 2019, this is 0.17 percent rate lower than the rate recorded in November 2019 (1.02) percent” the report stated.

Also, the percentage change in the average composite CPI for the twelve months period ending December 2019 over the average of the CPI for the previous twelve months period was 11.40 percent, showing 0.05 percent point from 11.35 percent recorded in November 2019.

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