Inflation hits 11.85% – NBC

National Bureau of Statistics has revealed that the consumer fee index that measures inflation accelerated to 11.85% in November. 

According to the inflation report launched on Tuesday, the inflation price multiplied with the aid of 0.24 percentage factors from the 11.61% recorded in October. 

“The urban inflation fee expanded by using 12.forty seven percentage (12 months-on-year) in November 2019 from 12.20 percent recorded in October 2019, at the same time as the agricultural inflation rate accelerated through 11.30 percent in November 2019 from 11.07 percentage in October 2019,” the file read. 

Northern Governors congratulate President Buhari at 77

“The composite meals index rose by means of 14.48 percentage in November 2019 compared to 14.09 percentage in October 2019.

 “This upward push within the meals index was resulting from increases in prices of bread, cereals, oils and fats, meat, potatoes,yam and different tubers, and fish.” 

Core inflation, which excludes the price of agricultural commodities, stood at 8.99%, up with the aid of 0.11%. “In November 2019, meals inflation on a 12 months on year basis was highest in Sokoto (18.77%), Kebbi (18.08%) and Ekiti (17.18%), while Katsina (12.61%), Bayelsa (12.50%) and Bauchi (12.44%) recorded the slowest rise,” the record read. 

“On month on month foundation however, November 2019 meals inflation was highest in Kwara (2.92%), Sokoto (2.72%) and Bayelsa and Edo (2.66%), at the same time as Nasarawa (0.31%) recorded the slowest rise with Lagos and Ondo recording fee deflation or negative inflation (trendy decrease within the well known charge level of meals or a poor meals inflation price).”