In December, Nigeria’s inflation rate increased for the fourth consecutive month, hitting 34.80 percent, according to data from the statistics agency.
The figure is up from 34.60% in November.
Explaining the reasoning behind the increase, the agency cited a boost in demand linked to the festive period.
The National Bureau of Statistics stated that food inflation was 39.84% year-on-year in December, compared with 39.93% in November, as a result of price increases for items including sweet potatoes, rice and beer.
Inflation spiked after the country’s president devalued…
