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
-
World Bank approves $240 mln for coastal protection in Benin, Mauritania
19:00
-
Commonwealth Delegation Assesses Industrial and Logistics Investment Opportunities in Togo
18:04
-
U.N. Closes Two Bases in Central African Republic as Security Conditions Improve
17:21
-
The Diet Shift: What Bennett’s Law Shows About Africa’s Food Transition
16:54
-
Guinea-Bissau: IMF approves $3.2 mln disbursement, extends credit program to end-2026
20:04
-
Togo signs investment MoU with China's WIETC in health, energy and infrastructure
19:11
-
Omar Gabr Reinvents Bug Tracking with AI-Driven Insights
10:51
-
Cameroon Reviews Progress on XAF350bn Rail Programme as Projects Near Implementation Phase
09:46
-
Cameroon Moves to Cut Food Imports with Cassava and Palm Oil Investment Deals
08:43
-
Douala Port Signs XAF40bn Rail Concession to Upgrade Logistics, Raise Revenues
08:19
CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...
Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...
Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...
Namibia and Russia agreed to expand cooperation across energy, mining, and agriculture. Both coun...
Cameroon signs MoUs for $1.5 billion waste-to-energy projects Plans target waste treat...
Funds target erosion control, ecosystem restoration in Benin and Mauritania Program aims to protect 530,000 people and create 13,000 jobs The World...
Move part of mission realignment, not withdrawal, UN says Armed groups persist despite 2019 peace deal, especially in east The United Nations...
While Engel’s Law explains how the share of household spending on food rises as incomes fall, Bennett’s Law focuses on how diets change as incomes...
IMF approves $3.2 million disbursement under Guinea-Bissau program Performance weaker than expected, several targets and benchmarks...
Event highlights growing role of diaspora entrepreneurs across multiple sectors Networks support trade, investment and SME...
Afreximbank launches Impact Stories season two highlighting trade-driven transformations Series features projects across Africa and Caribbean, from...