Nigeria’s inflation rate has climbed to a 31-month high, as it rose further to 14.89 per cent in November, the latest figures by the National Bureau of Statistics (NBS) has shown.
The report published on the website of the bureau shows that the new inflation rate is 0.66 percent points higher than the rate recorded in October 2020.
Inflation at 14.89% in November 2020 from 14.23% in October 2020 on a year-on-year basis.
The country’s inflation has been on the rise since the country shut its land borders. The situation became worse due to the coronavirus pandemic that has affected the global economy. (Guardian)
