Nigeria: Inflation eases in December from the prior month
Latest reading: Consumer prices increased 15.2% on a year-on-year basis in December, following a 17.3% increase in the prior month. December’s reading was the weakest since November 2020.
Relative to the prior month’s figures, there were reduced price pressures for food (+11.3% in annual terms vs +13.0% in November), clothing and footwear (+13.2% vs +15.1% in November) and housing and energy (+17.6% vs +20.1% in November).
Meanwhile, core consumer prices rose 18.2% in annual terms in December, following a 19.8% rise in the prior month.
Finally, consumer prices were up 0.54% in December in month-on-month terms, following a 1.22% rise in the previous month.