Food costs are rising, as Nigeria's inflation rate reaches 28.2% in November – NBC

According to the NBS, November's headline inflation rate was 2.09 percent, 0.35 percent higher than October's rate on a month-over-month basis.According to the National Bureau of Statistics (NBS), Nigeria's headline inflation rate jumped to 28.2 percent in November, representing a 0.87 percent point increase over the 27.33 percent recorded in October.It said that the November 2023 rate was 6.73% higher than the November 2022 rate in its Consumer Price Index (CPI) and Inflation Report for November, which was made public in Abuja on Friday.The headline inflation rate was 21.47 percent in November 2022. Furthermore, it stated that the headline index will rise in November 2023 both monthly and annually.