Audio By Carbonatix
Nigeria's headline inflation rate eased for the eighth consecutive month in November, helped by slowing food inflation, official data showed on Monday.
Consumer inflation stood at 14.45% year-on-year last month, down from 16.05% in October.
This year's inflation slowdown follows years of surging prices that triggered a cost-of-living crisis in Africa's most populous nation.
Consumer inflation peaked at nearly 35% last December, then fell after the statistics office revised its base year and adjusted the weights of items in its price basket.
Food inflation was 11.08% year-on-year in November, down from 13.12% in October.
The central bank said last month that it wanted inflation to fall further as it left its main interest rate unchanged.
Latest Stories
-
Former COCOBOD administration spent syndicated loans on themselves, not farmers – Inusah Fuseini
23 minutes -
Mahama vows to end export of raw mineral ores by 2030, shifts focus to local processing
41 minutes -
Mahama meets UN Chief, discusses African security & democracy.
49 minutes -
Livestream: Newsfile discusses cocoa crisis, galamsey complexity and election credibility in Ghana
1 hour -
Ghana stops cocoa Smuggling by narrowing price gap with neighbours – COCOBOD CEO
1 hour -
COCOBOD CEO admits pricing gap is costing Ghana cocoa sales
1 hour -
Solomon Owusu blames NPP for cocoa crisis, backs government’s new reform agenda
2 hours -
‘Behind The Lens with Queen Liz’ explores the true meaning of Valentine’s Day, Love, Lust or Legacy?
3 hours -
‘I wanted to be an architect but ended up as a nurse’ – Diana Hamilton reveals
4 hours -
From wards to worship: Diana Hamilton reveals how nursing school shaped her destiny
4 hours -
Mahama demands binding deadlines for African reparations
5 hours -
This is not the time to settle political scores – Bawumia to government
6 hours -
5 definitive Valentine’s Day gifts to win your lover’s heart in Ghana
6 hours -
37% of SHS students exposed to drugs – Opare-Addo
6 hours -
NLC secures court injunction against striking tertiary unions
7 hours