The National Bureau of Statistics disclosed on Monday that Nigeria’s headline inflation rate rose to 15.36 per cent in December 2021.
Earlier data from the NBS showed that headline inflation had maintained a consecutive decline for a period of eight months, from April to November 2021.
However, the trend was broken in December when the inflation climbed by 0.23 points to 16.63 per cent, from 15.50 per cent recorded in November.
The Statistician General of the Federation, Simon Harry, on Monday during a press briefing in Abuja said, “However, it may interest you to note that this trend has been broken by the slight change in the month of December, 2021 as the inflation rate for all items (Headline Inflation) for the month increased to 15.63 per cent, year-on-year.
This trend clearly shows an increase from 15.40 per cent recorded in the month of November, 2021 to 15.63 per cent in December, 2021. This is 0.23 per cent points higher than the rate recorded in November, 2021.”
He, however, said the development was a decline when compared to the corresponding month in 2020, which recorded 15.75 per cent.