Nigeria’s inflation rate rises to 21.47%

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)

Your Comment:

Related Posts

18

Jan
Business & Economy

FAAC shared N990bn among FG, states and LGs in December 2022

The Federation Account Allocation Committee (FAAC), has disclosed that it shared a total  of N990.189 billion to the three tiers of government, as Federation Allocation for the month of December 2022. The amount is inclusive of Gross Statutory Revenue, Value Added Tax (VAT), Exchange Gain and Electronic Money Transfer Levies (EMTL). The Federal Government received N375.306 billion, the states […]

18

Jan
Business & Economy

Stock Market Review: January 18, 2023

The Nigerian stock market on Tuesday closed on a positive note with 0.67% growth. Year to date, the market has returned, 2.83% with the All Share Index and the Market Capitalisation at 52,701.31 points and N28.705 trillion respectively. In a stock market review with the MD/CEO of Global View Capital Limited, Aruna Kebira, the following were discussed:[…]