Inflation rate in Nigeria dropped in December 2022, the National Bureau of Statistics has revealed.
NBS noted that the inflation rate dropped to 21.34% compared to the November 2022 headline inflation rate which was 21.47%.
According to the bureau’s CPI monthly report released on Monday, December 2022 inflation rate showed a decline of 0.13% when compared to November 2022 inflation rate.
“This means that in the month of December 2022, the general price level was 0.32% higher relative to November 2022.
“The percentage change in the average CPI for the twelve months ending December 2022 over the average of the CPI for the previous twelve months period was 18.85%, showing 1.89% increase compared to the 16.95% recorded in December 2021.”
