Recent report published by the National Bureau of Statistics revealed that the headline inflation rate in November 2022 was 21.47%. This was 6.07% points higher compared to the rate recorded in November 2021, which was 15.40%.
This means that in the month of November 2022, the general price level was 6.07% higher
relative to November 2021.
As at October 2022, the inflation rate was 21.09%.
On a month-on-month basis, the Headline inflation rate in November 2022 was 1.39%, this was 0.15% higher than the rate recorded in October 2022 (1.24%). This means that in the month of November 2022, the general price level was 0.15% higher relative to October 2022.
The percentage change in the average Consumer Price Index (CPI) for the twelve months period ending November 2022 over the average of the CPI for the previous twelve months period was 18.37%, showing a 1.39% increase compared to 16.98% recorded in November 2021.
Source: Nigeria’s inflation rate rises to 21.47% – StocksWatch (stocksng.com)
