Nigeria: Inflation continues downward trend in October
Consumer prices rose 1.08% in November, up from October’s 0.98% increase. The uptick was driven by stronger price increases for food, and housing water, electricity, gas and other fuel. On the other hand, prices for clothing and footwear rose at a softer pace over the prior month-
Inflation continued its downward path and came in at a 12-month low of 15.4% in November from 16.0% in October. The trend was stable, however: Annual average inflation came in at October’s 17.0% in November. Lastly, core inflation, which excludes volatile agricultural produce, rose to an over four-and-a-half-year high of 13.9% in November (October: 13.2%).