Dear Esteemed Client,
The recently released Inflation report for the month of December 2022 showed a marginal ease in Nigeria’s inflationary numbers. Headline inflation for December came in at 21.34% YoY, from 21.47% in November 2022. The decline in the pace of increase in the general price level was the first on record in 2022. On a month-on-month basis however, headline inflation remained on an upward trajectory, reaching 1.71% in December.
The epileptic supply of petroleum products has caused unending queues at fuel stations and an unofficial hike in the price per litre of most petroleum products. This additional cost alongside the upward review of the MYTO tariff can be expected to keep the general price level elevated.
Please click the link below to download the full report.
