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
-
Morocco’s Intelcia Redefines Global Strategy as It Moves to Regain Full Control From Altice
20:02
-
Nigeria to Tap National Satellite to Bring Internet to 20 Million People
19:57
-
Africa’s Most Attractive Countries for Talent in 2025, According to INSEAD
19:53
-
World Bank’s Michel Rogy: ‘Africa Can Become a Global Testbed for Applied AI’
18:39
-
Work On Togo’s Grid Expansion Hits 34% Completion In Kara
14:06
-
Access Bank, Partners, Unveils Project to Support Women Entrepreneurs
14:03
-
Nigeria’s Task Systems Tops 4,000 Global Candidates To Win Microsoft Partner Award
13:40
-
BasiGo’s Plan To Deploy 1,000 Electric Buses Backed by Proparco
13:26
-
South Africa Clears Lesaka’s $63.8 Million Acquisition Of Bank Zero
13:24
-
Togo Reviews 42 New Standards For Key Agri-Food Sectors
13:11
Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...
(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...
S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...
Government, ESCWA, and experts meet to shape national framework Plan aims to fight corruption, c...
MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...
Nigeria to use NigComSat to connect 20 million unserved citizens Satellite, fiber rollout aims to bridge urban-rural digital divide High costs,...
As global competition for talent intensifies in the era of artificial intelligence and advanced technologies, Africa is falling behind because of...
In Cotonou, at the Regional Summit on Digital Transformation, ministers, regulators and technical partners debated the digital future of West and Central...
Agreement follows tighter fiscal policy, reform progress after earlier delays IMF warns of reform fatigue, global risks despite improving economic...
Hidden deep within the Arabuko-Sokoke Forest on Kenya’s coast near Malindi, the ancient city of Gedi stands as one of East Africa’s most intriguing...
Orange Egypt and Qatar’s Qilaa International Group have partnered to develop WTOUR, a digital platform offering trip planning, hotel bookings, local...