Nigeria's inflation rate rose for the fourth straight month in December, advancing to 34.80% in annual terms from 34.60% in November, data from the statistics agency showed on Wednesday. Inflation quickened sharply in 2023 after President Bola Tinubu devalued the local naira currency and cut subsidies to try to lift economic growth and shore up public finances.

The food inflation rate in December 2024 was 39.84 per cent on a year-on-year basis, 5.91 per cent points higher compared to the rate recorded in December 2023 (33.93 per cent).

The National Bureau of Statistics has reported that Nigeria’s inflation rate rose to 34.80% in December 2024, reflecting a slight increase from the 34.60% recorded in November.

Nigeria’s annual inflation rate climbed to a near 29-year high in December, before an overhaul of the data later this month that may lower the gauge.

Nigeria’s inflation rate surged to 34.80 percent in December 2024 from 34.60 percent in November. This is according to the latest Consumer Price Index and inflation data released on Wednesday by the National Bureau of Statistics,

Nigeria’s inflation rate rose to 34.80 per cent in December, up from 33.60 per cent in November, according to the National Bureau of Statistics (NBS) released on Wednesday. ・Inflation rate in Nigeria rose to 34.