Inflation rate rose from 21.09% in October to 21.47% in November 2022, according to the National Bureau of Statistics (NBS).
In its document titled: ” CPI and Inflation Report November 2022,” on Thursday, the Bureau said headline inflation rate in November 2022 was 1.39%.
The document explained that it was 0.14% higher than the 1.24% rate recorded in October 2021.
NBS said: “In November 2022, on a year–on- year basis, the headline inflation rate was 21.47%.”
According to NBS, this was 6.07% points higher compared to the rate recorded in November 2021, which was 15.40%.
The document said this means that in the month of November 2022, the general price level was 6.07% higher relative to November 2021.
“On a month-on-month basis, the Headline inflation rate in November 2022 was 1.39%, this was 0.15% higher than the rate recorded in October 2022 (1.24%),” it said.
The document added that this means that in the month of November 2022, the general price level was 0.15% higher relative to October 2022.
NBS said the percentage change in the average CPI for the twelve months period ending November 2022 over the average of the CPI for the previous twelve months period was 18.37%, showing a 1.39% increase compared to 16.98% recorded in November 2021.
