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
-
BGFIBank Names Insider to Lead Benin Unit as Regional Expansion Accelerates
18:25
-
Self-financing dominates business creation in Togo, World Bank says
18:17
-
Cameroon Nears Decision on Africa Petroleum’s Return to Fuel Imports
18:12
-
World Bank Bets on Industry to Shield Africa From Gathering Shocks, but Challenges Remain
18:01
-
Cameroon Moves to Add Fuel Stations Along Key Trade Corridors
17:48
-
EBID Commitments Surge 83% to $813.8M as West Africa’s Infrastructure Demand Intensifies
17:44
-
Chinese investors unveil Kribi Industrial Park project
17:35
-
In Cameroon, Factoring Gains Ground as SMEs Seek Cash Flow Relief
17:34
-
Africa Expands Tech Hubs to Compete in Global Digital Economy
17:16
-
Zazu, Visa roll out digital business accounts for Moroccan SMEs
14:54
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
West African Development Bank allocates $131.8 million to support cotton sectors in Burkina F...
Gisèle Mélanie Houngue appointed CEO of BGFIBank Benin, replacing Alexis Louéké Veteran of the group with over a decade in finance and audit...
World Bank backs industrial policy as a shield against compounding shocks — a landmark shift from the Washington Consensus orthodoxy it championed for...
Africa counts more than 1,000 tech hubs in 2024, up from fewer than 600 in 2019 Leading ecosystems in Kenya, Nigeria and Rwanda attract capital and...
Meridian Port Services receives 16 electric RTG cranes for Tema Port expansion; $1.5 billion upgrade aims to raise capacity to 3 million TEUs...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...