Nigeria Inflation Rate Rises to 9.4% in November

Consumer prices in Nigeria went up by 9.4 percent year-on-year in November of 2015, following a 9.3 percent increase in the previous month. The rise was mainly driven by higher food and non-alcoholic prices due to a fuel shortage.

Year-on-year, food inflation accelerated to 10.3 percent from 10.1 percent in October, mainly driven by higher fish, bread, cereals; vegetable and meat prices. Also, upward pressure came from: housing, water, electricity, gas and other fuels (+7.5 percent against +7.6 percent in October); transport (+9.8 percent against +9.2 percent in October) and clothing and footwear (+9.3 percent against 9.4 percent in October). 

Annual core inflation rate rose at the same rate for the second consecutive month at 8.7 percent.

On a monthly basis, consumer prices increased 0.7 percent, compared to a 0.4 percent growth in October.

Nigeria Inflation Rate Rises to 9.4% in November

National Bureau of Statistics | Yekaterina Guchshina |
12/14/2015 4:24:46 PM