Nigeria’s headline inflation rate jumped to 34.80% in December 2024 from 34.60% in November 2024.

In its latest Consumer Price Index report released yesterday, the National Bureau of Statistics said the December 2024 headline inflation rate showed a marginal increase of 0.20% compared to the November 2024 headline inflation rate. 

It attributed the increase to the December festive period increases in demand for goods and services.

Meanwhile, food inflation rate in December 2024 stood at 39.84% on a year-on-year basis, 5.91% higher compared to the 33.93% recorded in December 2023.

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