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
-
Only 4.58% of road contracts awarded through sole-sourcing — Kwakye Ofosu
8 minutes -
Police arrest Fuseini ‘Fuzzy’ Sorku in Tamale over alleged assault case
9 minutes -
Mahama hasn’t added a cedi to presidential appointee salaries – Kwakye Ofosu
13 minutes -
Award-winning investigative journalist Roger Cook dies aged 83
15 minutes -
“Spider-Man of Yemen” dies after falling into volcanic crater during climb
23 minutes -
Deputy EC Chair Dr Bossman Asare to resign effective July 31
27 minutes -
Samuel Tettey retires as EC Deputy Commissioner; replacement process underway
43 minutes -
Processes underway to replace Sophia Akuffo on Council of State – Government
46 minutes -
Russian strikes kill 11 and set historic cathedral in Kyiv ablaze
49 minutes -
Mahama accepts Sophia Akuffo’s resignation; replacement process underway – Gov’t
54 minutes -
Motorcyclist killed in multi-vehicle crash on Cape Coast–Takoradi Highway
1 hour -
Canada visa denial for Thomas Partey exposes legal fractures of multi-host FIFA World Cup
1 hour -
FIFA seeks explanation over VAR official’s hand gesture
1 hour -
US and Iran agree to pause hostilities but key questions remain
1 hour -
Mahama receives ambassadors from Russia, Poland, Indonesia and five other countries
1 hour