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Nigeria Inflation November 2020

Nigeria: Inflation hits highest level since January 2018 in November

Consumer prices rose 1.60% over the previous month in November, picking up from October’s 1.54% increase. November’s result marked the sharpest increase in prices since May 2017 and largely reflected rising prices for food.

Inflation rose to 14.9% in November, from October’s 14.2%. November’s figure was the highest inflation rate since January 2018. Annual average inflation rose to 12.9% in November (October: 12.7%). Moreover, core consumer prices, which exclude volatile agricultural produce, rose 0.71% over the previous month in November, below October’s 1.25% increase. Core inflation fell to 11.0% from the previous month’s 11.1%.

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