Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Inflation rate up by 0.1% in November -- NBS

16 December 2013, 17:48

Abuja- The National Bureau of Statistics (NBS), on Monday, said inflation rate stood at 7.9 per cent in November, 0.1 per cent higher than the 7.8 per cent recorded in October.

The figure is contained in a statement issued in Abuja by the Statistician-General of the Federation, Dr Yemi Kale.

The statement quoted Kale as saying “in November, the Consumer Price Index (CPI) which measures inflation, rose by 7.9 percent year-on-year, a marginal increase of 0.1 percentage point from7.8 per cent recorded in October.

“This is the first up-tick in year-on-year rates recorded in four months, even as rates remain in single digit range for the 11th consecutive month.’’

The NBS boss said prices increased in major food classes such as meat, fish, bread and cereals.

He added that ``in November, on a month-on-month basis, the highest price increases were recorded in the bread and cereals, oils and fats, and fish classes.

“The average annual rate of rise of the food sub-index for the 12-month period ending in November 2013 was 9.8 per cent when compared with the same period in 2012.

“This is 0.2 percentage points lower than the 12 month average year-on-year change for the period ending in October (10.0 percent).’’

Kale said that the impact of harvests continued to be observed in some classes, as moderation was observed in dairies, fruits, vegetables, coffee, tea and cocoa classes.

He noted that the core sub-index continued to edge higher on a year-on-year basis, increasing for the fifth consecutive month.

“There were moderation, however, in the electricity, gas and other classes such as major household appliances and household textiles.

He added that the increase in the core sub-index in November was as a result of price increase across various class items such as furniture and furnishings, vehicle spare parts, garments, clothing materials and other articles of clothing.

-   NAN


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...