Nigeria’s inflation rate rose to 15.63 percent in the month of December 2021 from 15.4 percent recorded in November 2021, after 8 months of consecutive decline.
Gatekeepers News reports that the latest figure was contained in the consumer price index report released by the National Bureau of Statistics (NBS) on Monday.
According to the NBS report, food inflation also rose to 17.37 percent from 17.21 percent recorded in the previous month while core inflation moved upward from 13.85 percent recorded in November 2021 to 13.87 percent.
This rise in the food sub-index, according to NBS, was caused by increases in prices of bread and cereals, food product, meat, fish, potatoes, yam and other tubers, soft drinks and fruits.
Meanwhile, the highest increases were recorded in prices of Gas, Liquid fuel, Wine, Actual and imputed rentals for housing, Narcotics, Tobacco, Spirit, Cleaning, repair and hire of clothing, Garments, Shoes and other footwear and Clothing materials, other articles of clothing and clothing accessories.
