Nigeria’s Inflation hits it's peak in 32-months

The National Bureau of Statistics on Friday, said Nigeria’s headline inflation rose to 15.75 per cent in December, its highest level in 32 months.

The figure is an indication that President Muhammadu Buhari’s order in December reopening the country’s land borders to trade has not immediately succeeded in arresting increase in food prices. This will complicate recovery efforts for Nigeria's economy, which slipped into its second recession in four years and the worst in nearly forty years. It will also heap further pressure on cost of living and disposable income, while weakening consumer spending.

Read more details at Premiumtimes

 Got gist? SMS:08029976464 WhatsApp:08029976464 Email:inkubwa@gmail.com