Nigeria's Headline Inflation Hits 34.8% in December (NBS)
Thursday, 16 January 2025 13:07
Nigeria's overall inflation rate reached 34.8% in December 2024, up from 34.6% in November 2024. This marks the fourth consecutive increase since the rate was 32.15% in August 2024, the National Bureau of Statistics (NBS) reported on January 15, 2025.
The rise is mainly due to higher demand for goods and services during the holiday period, NBS said. Key contributors to the increase were food and non-alcoholic beverages, housing, water, electricity, gas, and other fuels.
The food inflation rate in December 2024 was 39.84% year-on-year, which is 5.91 percentage points higher compared to December 2023, when it was 33.93%.
Live News
-
Togo receives CFA1.6B Chinese rice donation to support food security
15:01
-
Africa’s $35bn sports tourism opportunity: growth accelerates alongside traditional travel sectors
14:37
-
Uganda: UN Women, Equity Bank launch programme for women entrepreneurs in underserved communities
14:33
-
Chevron Approves Investment in Equatorial Guinea’s Aseng Gas Project
13:36
-
Togo: Bloomfield outlines risk profile, sees reform-linked investment potential
12:49
-
Togo rolls out infrastructure mapping platform for public and industry use
12:29
-
Innovate Now selects 19 Kenyan startups for assistive tech cohort
12:09
-
Cyber Carnival 2026 to bring cybersecurity focus to Nairobi in June
12:03
-
Kenya probes Meta smart glasses over privacy concerns
11:52
-
Tarik Fadli Digitizes Business Processes with Algo Consulting Group
10:42
Operator explores renewable energy partnership with Italy’s Ascot Energy Move aims to stabilize p...
A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...
First investor town hall since 2021 signals renewed engagement with markets Authorities hi...
Arise IIP plans to invest more than $3 billion in Kenya over five years The company wi...
Efforts to reinforce health systems are gaining pace across Africa, with this week’s developments fo...
Africa’s sports economy could expand from $12bn to $30-35bn over the next decade Tourism contributes up to 8% of GDP across the continent,...
A two-year partnership will support women entrepreneurs with finance and training The initiative targets underserved and refugee-hosting...
Chevron has taken a final investment decision on the Aseng Gas Monetisation project. The project targets 550 billion cubic feet of gas with an...
Burkina Faso recorded a $1.6 billion trade surplus in Q4 2025, up sharply from the previous quarter. Gold accounted for 96.8% of total...
The Bijagos Archipelago, located off the coast of Guinea-Bissau, stands as one of West Africa’s most extraordinary island systems. Made up of around forty...
RFI confirmed the end of “Couleurs Tropicales” following Claudy Siar’s departure after 31 years. The move follows a series of high-profile exits...