Nigeria’s Inflation Rate Drops To 21.34% In Dec 2022 

Nigeria’s Inflation Rate Drops To 21.34% In Dec 2022 

Nigeria’s inflation rate eased to 21.34% in December 2022 from 21.47% in November 2022, first drop in about 11 months.
The National Bureau of Statistics showed a decline of 0.13% between November and December.
The NBS reports say In December 2022, the headline inflation rate eased to 21.34% compared to November 2022 headline inflation rate which was 21.47%.
This shows that the headline inflation rate increased in the month of December 2022 when compared to the same month in the preceding year.
The percentage change in the average CPI for the twelve months ending December 2022 over the average of the CPI for the previous twelve months period was 18.85%, showing 1.89% increase compared to the 16.95% recorded in December 2021.”

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