{"id":10729,"date":"2025-01-16T02:35:28","date_gmt":"2025-01-16T02:35:28","guid":{"rendered":"https:\/\/cryptoopia.com\/economic-indicators\/10729.html"},"modified":"2025-01-16T02:35:28","modified_gmt":"2025-01-16T02:35:28","slug":"nigerian-inflation-rises-for-fourth-straight-month-in-december","status":"publish","type":"post","link":"https:\/\/cryptoopia.com\/economic-indicators\/10729.html","title":{"rendered":"Nigerian inflation rises for fourth straight month in December"},"content":{"rendered":"<p>ABUJA (Reuters) -Nigeria&#8217;s inflation rate rose for the fourth straight month in December, advancing to 34.80% in annual terms from 34.60% in November, data from the statistics agency showed on Wednesday.<\/p>\n<p>The agency said in a report that the uptick in December was due to increased demand associated with the festive period. Food and non-alcoholic beverages contributed the most to price pressures.<\/p>\n<p>Inflation rose sharply after President Bola Tinubu devalued the naira currency and cut subsidies in 2023 to try to lift economic growth and shore up public finances.<\/p>\n<p>It started to ease in July last year as the impact of the naira devaluation began to fade, before a series of petrol price increases again spurred inflationary pressures, exacerbating the worst cost of living crisis in decades in Africa&#8217;s most populous nation.<\/p>\n<p>Food inflation was 39.84% year-on-year in December, compared with 39.93% the previous month, due to price rises for items such as yam, sweet potatoes, beer, corn, rice and fish, the National Bureau of Statistics said.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/i-invdn-com.investing.com\/trkd-images\/LYNXMPEL0E0JE_L.jpg\" title=\"\u00a9 Reuters. FILE PHOTO: A customer checks out at the cash register in a mall in Abuja, Nigeria, September 15, 2022. REUTERS\/Afolabi Sotunde\/File Photo\" alt=\"\u00a9 Reuters. FILE PHOTO: A customer checks out at the cash register in a mall in Abuja, Nigeria, September 15, 2022. REUTERS\/Afolabi Sotunde\/File Photo\"><\/p>\n<p>The central bank hiked interest rates six times last year to try to get inflation under control.<\/p>\n<p>Nigeria&#8217;s government expects inflation to fall to 15% this year, helped by lower imports of petroleum products, Tinubu said during a budget speech in December.<\/p>\n<p>\n","protected":false},"excerpt":{"rendered":"<p>[db:\u6458\u8981]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[28],"class_list":["post-10729","post","type-post","status-publish","format-standard","hentry","category-economic-indicators","tag-db"],"_links":{"self":[{"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/posts\/10729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/comments?post=10729"}],"version-history":[{"count":0,"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/posts\/10729\/revisions"}],"wp:attachment":[{"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/media?parent=10729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/categories?post=10729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoopia.com\/wp-json\/wp\/v2\/tags?post=10729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}