Report by National Bureau of Statistic shows that Nigeria`s headline inflation rose to 15.63 percent in the month of December 2021
NBS says the huge spending by Nigerians
during the Christmas and New Year celebrations may be responsible for rise in country’s
inflation higher to 15.63 percent in December.
The NBS in its Consumer Price Index report
which was released on Monday, stated that the 15.63 per cent year-on-year
inflation rate was 0.23 percent points increase from the 15.40 percent
recorded in November, 2021.
“Headline inflation for the month of December
was 15.63 per cent, while that of November was 15.40 per cent
“Core inflation for December was 13.87 per
cent, while that of November was 13.85 per cent. Food inflation for December
was 17.37 per cent, while 17.21 per cent was recorded for November, 2021,” the
report said.
The Report stated further that urban
inflation for December was 16.17 percent while November index was put at 15.92
percent.
On the other hand, it explained that rural
inflation was 15.11 percent and 14.89 per cent in December and November, 2021
respectively.
On State by State comparison, the report said
that inflation was highest in Ebonyi State with 18.71 per cent, while Kwara
State was recorded as the lowest with 12.32 per cent.
On the other hand, Food inflation was highest in Kogi State with 22.82 percent, while Edo State was the lowest with 13.24 percent.