More for less: Nigerians groan as inflation hits 14.89%

December inflation Border reopening

Evidently, the trend of spending more to get less by Nigerians has reached a new height following o.66 per cent spike in inflation rate in November December. According to the National Bureau of Statistics (NBS) in the latest inflation report released on Tuesday, Nigeria’s inflation rate has climbed to a 31-month high, as it rose further to 14.89 per cent in November. Inflation now stands at 14.89 per cent in November 2020 from 14.23 per cent in October 2020 on a year-on-year basis. The country’s inflation has been on the…

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