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
-
African EV firm Agilitee seeks US capital markets entry to scale green mobility
40 seconds -
Jacobu Police arrest 10 illegal miners operating under high-tension lines
5 minutes -
NPP Germany branch secretary race: Kofi Okantah declares bid, outlines reform agenda
7 minutes -
NSB Trial: I was given pre-signed cheques to move huge sums – Witness tells court
11 minutes -
Why Ghana’s economic growth is not creating jobs despite strong rebound — Deloitte partner
12 minutes -
Exchange rate stability a game changer for Ghana’s Economy – Prof. Gyeke-Dako
13 minutes -
NCCE intensifies public education on constitutional rights in digital space
17 minutes -
Rising NCD burden threatens Africa’s health gains as WHO urges urgent, coordinated action
20 minutes -
ECG restores power to Afram Plains after river cable fault
29 minutes -
Ho Teaching Hospital marks 7th Anniversary
34 minutes -
Government underperforming in youth job creation after 16 months – Joe Jackson
37 minutes -
Volta Region: Abor Police crack down on robbery syndicate, arrest five
37 minutes -
Mummy’s Day Out: Joy FM to celebrate mothers with Crown Forest experience on May 9
38 minutes -
UBIDS celebrates Prof. Bernard Akanbang’s Inaugural Lecture on development effectiveness
42 minutes -
Akatsi South records gains in health, education, revenue mobilisation – MCE
48 minutes