Lagos - Nigeria’s inflation rate edged up in December due to heavy spending associated with the yuletide season, data released on Tuesday by the National Bureau of Statistics (NBS) showed.
Inflation rate during this period rose to 8.0 per cent compared to 7.9 percent in November, reports Leadership.
Consumer prices rose by 0.78 per cent in December, up from 0.72 per cent recorded in November. The rise was driven by a spike in the volatile prices for major food items like bread, cereals, meat, fish and dairy products.
Rising costs of gas and other fuels, electricity, tobacco and kola, as well as housing, and water, also pushed prices up.
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