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The current inflation rate in Nigeria is 21.07 per cent, up 0.9 percent from the rate that was registered in the previous month. Nigeria’s inflation has continued to trend upwards in nearly one year despite the CBN's interest rate hikes.
The National Bureau of Statistics reported that Nigeria’s inflation rate in December 2022 was 21.34%. The headline inflation rate dropped by 0.60%, marking Nigeria’s first decline in inflation in 11 months.
