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Nigerian inflation hits 21.47%

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The National Bureau of Statistics says that Nigeria's inflation rate went up from 21.09% in October 2022 to 21.47% in November 2022. (NBS).

The Bureau's "CPI and Inflation Report for November 2022," which came out on Thursday, said that the overall rate of inflation in November 2022 was 1.39%.

The document said that it is 0.14% higher than the rate in October 2021, which was 1.24%.

The NBS said, "The headline inflation rate in November 2022, compared to November 2021, was 21.47 percent."

The National Bureau of Statistics says that this is 6.07% points higher than the rate in November 2021, which was 15.41%.

The document said that this means that overall prices were 6.07% higher in November 2022 than in November 2021.

"The headline inflation rate in November 2022 was 1.39%, which was 0.15% higher than the rate in October 2022, which was 1.24%," it said. The document also said that this means that overall prices were 0.15 percent higher in November 2022 than in October 2022.

NBS said that the average CPI for the twelve months ending in November 2022 was 18.37% higher than the average CPI for the twelve months before that. This was 1.39% higher than the 16.98% recorded in November 2021.

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