Nigeria Inflation Rises More Than Forecast to Match 2005 Record
- Headline inflation 28.2% in November, statistics office says
- Food inflation rate rose to 32.8% from 31.5% in October
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Nigeria’s inflation rate climbed to a new 18-year high in November, matching a record level reached in 2005, which may spur the central bank to raise interest rates.
Consumer prices rose 28.2% from a year earlier, compared with 27.3% in October, the National Bureau of Statistics said Friday. The median estimate in a Bloomberg survey of economists was for a 27.9% increase. Prices rose 2.1% in the month.