Nigeria’s inflation rate has risen from 15.50 percent in November to 15.63 percent in December 2021.
Dr. Simon Harry, the Federation’s Statistician-General, made the announcement on Monday during a press conference at the National Bureau of Statistics in Abuja.
According to NBS data, headline inflation has been on a downward trend since April 2021.
However, the trend was broken in December, when year-on-year inflation rose 0.23 percentage points higher than in November.
However, you may be interested to know that this trend was broken by a slight change in the month of December 2021, when the inflation rate for all items increased to 15.63 percent year on year,” he said during the press conference.
“However, this is a decrease when compared to the same month in 2020, which recorded 15.75 percent.”
“This trend clearly indicates an increase from 15.40 percent in November 2021 to 15.63 percent in December 2021.” This is 0.23 percentage point higher than the November 2021 rate.”
According to the Federation’s Statistician-General, the change in the declining trend could have been caused by an increase in the prices of goods and services due to increased demand during the month under review, which was a festive season.
