Nigeria’s Inflation Rate Increased In November – NBS


The National Bureau of statistics (NBS) has stated that the Consumer Price Index (CPI), which measured inflation increased to 11.28 per cent (year-on-year) in November from 11.26 per cent recorded in October.

The NBS disclosed this in its “CPI and Inflation Report” for November released in Abuja on Friday.

According to the bureau, the figure is 0.02 per cent points higher than the rate recorded in October.

On a month-on-month basis, the NBS said the headline index increased by 0.80 per cent in the period under review by 0.06 per cent points from the rate recorded in October (0.74 per cent).

It, however, measured the CPI at 12.41 per cent in the period under review, showing a 0.37 per cent decline from 12.78 per cent recorded in October.

The bureau said that increases were recorded in all Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the Headline index.



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