Nigeria's Inflation Falls for First Time in 11 Months PremiumTimesng: Nigeria
Nigeria's inflation dipped in December to 21.34 per cent from 21.47 per cent in November after 10 straight monthly increases, theThe NBS report stated that food inflation dropped to 23.75 per cent in December from 24.13 per cent a month earlier, amid skyrocketed prices of staples.
"The increases were recorded in all ... divisions that yielded the headline index most especially in food & non-alcoholic beverages, transport and miscellaneous goods & services," the NBS said in its report. At the meeting, scheduled for next week, the MPC as part of efforts to tame inflation would decide on interest rates in Africa's largest economy.In terms of trend, the NBS noted that the December 2022 inflation rate showed a decline of 0.13 per cent when compared to November 2022 inflation rate.
"This shows that the headline inflation rate increased in the month of December 2022 when compared to the same month in the preceding year ."
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