Featured Finance Politics News

Nigeria’s Inflation rate increases in Dec. 2018 — NBS

By Thompson ABISOLA

The National Bureau of Statistics (NBS), says the Consumer Price Index (CPI) which measured inflation increased to 11.44 per cent (year-on-year) in December 2018 from 11.28 per cent recorded in November 2018.

The NBS disclosed this in its “CPI and Inflation Report’’ for December released in Abuja on Wednesday on its website.

The bureau said the figure was 0.16 per cent points higher than the rate recorded in November in the period under review.

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

On a month-on-month basis, it said the headline index increased by 0.74 per cent in the period under review by 0.06 per cent points from the rate recorded in November 2018 (0.80 per cent).

It said the percentage change in the average composite CPI for the 12 months period ended December over the average of CPI for the previous 12 months period.

It, however, measured the CPI at 12.10 per cent in the period under review, indicating a 0.31 per cent decline from 12.41 per cent recorded in November 2018.

According to the bureau, the urban inflation rate increased to 11.73 per cent (year-on-year) in December 2018 from 11.61 per cent recorded in November of the same year.

It said the rural inflation rate also increased to 11.18 per cent in December 2018 from 10.99 per cent in November 2018.

On a month-on-month basis, NBS said the urban index rose by 0.76 per cent in the period under review, showing a decline of 0.07 per cent from 0.83 per cent recorded in November 2018.

Similarly, it said the rural index also rose by 0.72 per cent in Dec. 2018, indicating a decrease of 0.06 per cent from the rate of 0.78 per cent recorded in Nov. 2018.

 

Related posts

Startups offer payment options for struggling Nigerian consumers

Our Reporter

Anambra bars party uniforms during Tinubu’s visit today

Editor

2 Kenyans :Bamarssai, Cherop emerge overall winners of 2020 Access Bank Lagos City Marathon

Meletus EZE

Makinde reverses appointment of 15 new Perm Secs

By Meletus EZE

Eight journalists killed, 300 violations recorded under Buhari – Report

Our Reporter

Oil, gas fair l’ll boost local content penetration- NCDMB

Editor