Inflation & Prices
Nigeria Inflation at 27-Year High, Puts Rate Hike on Table
- Headline inflation 28.9% in December, statistics office says
- Central bank yet to say when it will hold its rate meeting
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Nigerian consumer prices climbed at the fastest annual pace in almost three decades in December, as a halt to fuel subsidies stoked transport costs and the naira weakened.
The inflation rate rose to 28.9% from a year earlier, compared with 28.2% in November, the National Bureau of Statistics said Monday. The median estimate in a Bloomberg survey of economists was for a 28.6% increase. Prices advanced 2.3% in the month.