Contrary to expectations, Nigeria’s food inflation which has maintained a steady rise over three months dropped to 39.84 per cent in December 2024 as against the 39.93 per cent recorded in November.
The National Bureau of Statistics in its December 2024 consumer price index (CPI) report published on Wednesday also shows that the headline inflation edged higher to 34.80 per cent in December,an increase of 0.20 per cent over the figure in November 2024 which was 34.60 per cent.
The NBS reports that the increase in headline inflation was due to December festive period increases in demand for goods and services.
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