Nigeria Inflation Slows Further to 15.40% in November
By Sahabi Abdul
Nigeria’s annual inflation maintained its slowing momentum for the seventh month in November at 15.40 percent, according to the National Bureau of Statistics.
This represents a 0.52 percent year-on-year increase, data published on the website of the National Bureau of Statistics show. The latest figures also show a 2.77 percent drop in the inflation rate since it peaked at 18.17 percent in Mach.
Food inflation, a major driver of the price index, decelerated to 17.21 percent from 18.34 percent in October. The continuing increase in the food index was blamed by the Statistics agency on the rising prices of items including cereals, bread, fish, tubers, oil, fats, eggs and Cocoa, among others.