Nigeria Inflation rises to 18.55 Percent

    Inflation rose by 18.55 per cent in December 2016, 0.07 per cent points higher from the 18.48 per cent recorded in November. Recent report released by the National Bureau of Statistics (NBS) indicated that Increases in consumer goods were recorded in all COICOP divisions that yield the Headline Index.

    “The highest increases were seen in Housing, Water, Electricity, Gas and Other Fuels, Clothing and Footwear and Education, growing at 27.27, 21.62 and 17.84 per cent respectively,” the report stated.

    The report showed that communication, restaurants and hotels recorded the slowest pace of growth in December, growing at 5.33 per cent and 8.91 per cent (year-on-year) respectively

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