Nigeria’s Inflation rate rises to 15.63 per cent in December 2021.

Written by on January 17, 2022

Nigeria’s inflation rate has risen to 15.63 percent in December 2021 from 15.50 percent recorded in November.

The Statistician-General of the Federation, Dr. Simon Harry, disclosed this on Monday during a press briefing at the National Bureau of Statistics, Abuja.

Data from the NBS showed that headline inflation has been on a downward trajectory since April 2021.

However, the trend was broken in December when year-on-year inflation climbed 0.23 points higher than the figure recorded in November.

According to the Statistician-General of the Federation, the change in the declining trend might have been caused by the increase in prices of goods and services driven by increased demand during the month under review, being a festive season.

 

Seun Fakorede

 


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