TOP STORY: Nigeria’s inflation eases to 21.34% — first drop in 11 months | TheCable
January 16, 2023 3:54 PM
On a month-on-month basis, this is the first time the inflation rate is decreasing in the last eleven months. “However, on a year-on-year basis, the headline inflation rate was 5.72 percent points higher compared to the rate recorded in December 2021, which was . This shows that the headline inflation rate increased in the month of December 2022 when compared to the same month in the preceding year ,” the report reads.
“The rise in the food inflation was caused by increases in prices of bread and cereals, oil and fat, potatoes, yam and other tubers, fish, food product, etc.
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