Nigeria's Inflation Hits 32-Month Peak of 15.75% On Spiralling Food Prices

15 January 2021

Reopening Nigeria's borders to trade has failed to, immediately, arrest the inflation and relentless climb in the cost of living.

Nigeria's inflation rose to 15.75 per cent in December, its highest level in 32 months, Abuja-based National Bureau of Statistics said on Friday, as President Muhammadu Buhari's order reopening the country's borders to trade failed to arrest the relentless climb in the cost of living.

Inflation had touched 14.89 per cent in November, with the 0.86 per cent month-on-month increase last month figure marking the 16th consecutive month inflation would increase in Africa's largest economy.

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