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
-
South Africa’s Pension Giant Wants Out of Poultry Producer Daybreak
18:16
-
Egypt cleared to export onions, garlic to Uruguay
17:47
-
Nigeria Launches Palm Oil Strategy Targeting 10% Global Market Share in Six Years
17:42
-
World Bank Approves $124 Million for Irrigation Project in Tunisia
17:28
-
IMF appoints Mauritania’s Zeidane to head Africa Department
18:56
-
BCEAO sets June 30 deadline for operators to join instant payment platform
18:52
-
Cameroon higher education group plans microfinance bank for student startups
18:34
-
Internet Freedom in Africa Remains Uneven in 2026 Despite Rising Access
18:30
-
Cameroon Delivers Tractors to Agropoles to Scale Production and Agro-Processing
18:28
-
Togo receives CFA1.6B Chinese rice donation to support food security
15:01
A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...
Efforts to reinforce health systems are gaining pace across Africa, with this week’s developments fo...
Coca-Cola will invest $1.03 billion in South Africa by 2030 to expand capacity and distributi...
Operator explores renewable energy partnership with Italy’s Ascot Energy Move aims to stabilize p...
ECOWAS and IMF sign cooperation framework to strengthen policy alignment West Africa’s grow...
Deal follows bilateral talks on sanitary and technical standards New market could boost exports amid rising Uruguayan demand Egypt has been cleared...
Nigeria launches strategy to boost palm oil production Plan targets 10% global market share and sector reforms Country seeks self-sufficiency while...
Initiative targets infrastructure, climate-smart farming and productivity gains Project to benefit 13,000 farmers and create jobs The World Bank’s...
Oil flows via Egypt’s SUMED pipeline surge 150% amid tensions Route gains importance as shipments bypass Strait of Hormuz Strait traffic drops...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...
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...