Nigeria Annual Inflation Rate Rises to 11.28% in November

The annual inflation rate in Nigeria rose to 11.28 percent in November of 2018 from 11.26 percent in the previous month. Prices advanced faster mainly due to higher cost of food and housing and utilities.

Year-on-year, prices increased further food & non alcoholic beverages (13.26 percent compared to 13.24 percent in October), mainly driven by food (13.30 percent compared to 13.28 percent); housing & utilities (7.34 percent compared to 7.28 percent); health (9.74 percent compared to 9.70 percent); restaurants & hotels (9.45 percent compared to 9.42 percent); recreation & culture (8.56 percent compared to 8.38 percent) and communication (7.36 percent compared to 7.29 percent).

Meanwhile, cost slowed for clothing & footwear (9.97 percent compared to 9.98 percent); transport (10.29 percent compared to 10.37 percent); furnishings & household equipment maintenance (9.69 percent compared to 9.72 percent); education (9.78 percent compared to 9.85 percent) and miscellaneous goods & services (9.66 percent compared to 9.76 percent).

Annual core inflation which excludes price of volatile agricultural products fell to 9.79 percent in November from 9.88 percent in October.

On a monthly basis, consumer prices went up 0.8 percent, after rising 0.7 percent in the prior month.

Nigeria Annual Inflation Rate Rises to 11.28% in November

National Bureau of Statistics | Stefanie Moya |
12/14/2018 10:14:39 AM