Nigeria’s headline inflation rate soared to 34.80% in December 2024 from 34.60% in November 2024, the National Bureau of Statistics (NBS) disclosed this on Wednesday.
The NBS attributed the rise to the December festive period increases in demand for goods and services.
The agency stated that the December 2024 headline inflation rate showed a marginal increase of 0.20% compared to the November 2024 headline inflation rate.
NBS said “on a year-on-year basis, the headline inflation rate was 5.87% higher than the rate recorded in December 2023 (28.92%). This shows that the headline inflation rate (year-on-year basis) increased in December 2024 compared to the same month in the preceding year (December 2023).”
Meanwhile, food inflation rate in December 2024 stood at 39.84% on a year-on-year basis, 5.91% higher compared to the rate recorded in December 2023 (33.93%).
For More Updates, Follow the Egalitarian Voice channel on WhatsApp:
https://whatsapp.com/channel/0029Va9qtzXHwXbIyBGtjk2o
