Nigeria’s Inflation Rate Drops To 21.34% In Dec 2022 

Nigeria’s inflation rate eased to 21.34% in December 2022 from 21.47% in November 2022, first drop in about 11 months. <br />The National Bureau of Statistics showed a decline of 0.13% between November and December. <br />The NBS reports say In December 2022, the headline inflation rate eased to 21.34% compared to November 2022 headline inflation rate which was 21.47%. <br />This shows that the headline inflation rate increased in the month of December 2022 when compared to the same month in the preceding year. <br />The percentage change in the average CPI for the twelve months ending December 2022 over the average of the CPI for the previous twelve months period was 18.85%, showing 1.89% increase compared to the 16.95% recorded in December 2021.”