Nigeria’s Inflation Hits 34.8% as Food Prices and Seasonal Demand Bite

• December inflation rises to 34.8%, capping a year of three-decade highs.
• Consumer price index overhaul set to expand tracked items and reduce food weight.

Abuja, Nigeria – Nigeria’s annual inflation edged higher in December, reaching 34.8% from 34.6% in November, marking a year in which consumer prices hovered at three-decade highs. The National Bureau of Statistics (NBS) described the 0.20% increase as marginal in a statement released on Tuesday.