Inflation Soars to 34.6% as Nigerians Face Tougher Times
The Nigeria’s headline inflation rate has significally increased to 34.% in November up from 33.8% in October. The Nigeria Bureau of Statistics (NBS) made this known in its customer price index report (CPI) for November which was published on Monday.
This reports sees an increase of 0.72% compared to the month of October 2024 rate. On the year on year report, the NBS said that inflation was 6.40% points higher than the rate recorded in November 2023 (28.20%).
Adding to this month on month basis the headline inflation rate in November 2024 was 2.638%, which was 0.0025 points lower than the rate recorded in October 2024.
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