Published in Chart of the Day
After an eight-month steady decline, Nigeria’s inflation rate picked up in December 2021. Though the increases were marginal, it ended the reign of the season of decline.
Ode Uduu ,
January 19th, 2022
Headline inflation which measures general inflation increased from 15.4% in November 2021 to 15.63% in December 2021. This shows a marginal increase in the rate by 0.23%.
Food inflation also went up in December to end its eight-months decline. The rate increased from 17.21% in November 2021 to 17.37% in December 2021.
Nigeria’s Inflation Trend
Core inflation which has been more volatile with its movement continued its upward trend as in the last three months. The rate increased from 13.85% in November 2021 to 13.87% in December 2021.
There have been questions around the decreasing official inflation rates in the last 8 months and increasing market prices, and these December figures might be truer to Nigerians’ experiences in the markets.
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