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Nigeria’s Inflation Jumps To 15.75%

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Ganiyat Ganiyu 

Nigeria’s consumer price index which measures inflation jumped to  its highest level in more than three years on Friday.

This was contained in a data released by the National Bureau of Statistics.

Inflation stood at 15.75 per cent in December, compared with 14.89 per cent in November, marking the 16th straight month of increases.

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The consumer inflation rate in December was the highest since November 2017, when it stood at 15.90 per cent.

The NBS said the composite food index rose by 19.56 per cent in December from 18.30 percent in November.

“This rise in the food index was caused by increases in prices of bread and cereals, potatoes, yam, and other tubers, meat, fruits, vegetable, fish and oils, and fats,” it added.

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