Nigeria’s inflation rate jumped in November to 28.2 percent the National Bureau of Statistics (NBS) said last Friday (Dec. 14). The latest rate is a 0.61 percent rise from October’s 27.33 percent
The country’s consumer price index, a main gauge of inflation, was 6.73 percent higher than it was in November 2022. In November 2022, the inflation rate stood at 21.47 percent
Rises in the price of goods caused by President Bola Tinubu’s economic reforms, including scrapping a costly gas subsidy pushed food inflation to 2.42 percent from the 1.91 percent recorded in October.
The food inflation was highest in the southern regions of Cross River (4.37 percent), Edo (3.95 percent) and Rivers State (3.91 percent), and lowest in Southeast Anambra State (0.63 percent), Southwest Oyo State (0.91 percent) and Northeast Bauchi State (1.00 percent).
Read more: https://gazettengr.com/nigerias-inflation-rate-hit-28-2-in-november-nbs/
—Ezinwanne Onwuka reports for TruthNigeria from Abuja.
