Inflation surged to twenty eight per cent in November from twenty seven per cent in October, underscoring a worsening cost of living crisis in the country.
The National Bureau of Statistics in its new ‘Consumer Price Index for November 2023’ released on Friday, revealed that headline inflation surged by zero point eighty seven percentage points in November to a new record high in almost two decades.
On a month-month basis, headline inflation in November 2023 was 2.09 per cent. Which was 0.35 percentage points higher than what was recorded in October (1.73 per cent), defeating a recent claim by the Central Bank of Nigeria that inflation is slowing down.
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