BREAKING: Nigeria’s inflation rate hits 14.89% in November –NBS


Nigeria’s inflation rate increased by 14.89 per cent (year-on-year) in November 2020, the highest in 31 months.

The National Bureau of Statistics disclosed in its Consumer Price Index November 2020 report on Tuesday.

The latest figures show that the new inflation rate is 0.66 percent points higher than the 14.23% rate recorded in October 2020.

According to the report, the composite food index rose sharply by 18.3% in November 2020 compared to 17.38% in October 2020 while the ”All items less farm produce” or Core inflation, which excludes the prices of volatile agricultural produce stood at 11.05% in November 2020.

Abisola Adebayo is a Reporter/Presenter/Social Media Manager for Tv360Nigeria. She is a first class graduate of the department of Mass Communication at Fountain University, Osogbo. Abisola is currently running her Masters Degree at the University of Lagos. The Social Media savvy young lady is ambitious and driven, likes trying new things and sets new goals for herself. Always looking for an opportunity to do better and achieve greatness.

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