Food, petrol drive inflation for 10th straight month

Nigeria’s headline inflation, which showed signs of cooling in three straight months, gained steam in November on the back of rising food prices and petrol scarcity.

The inflation rate quickened for the 10th straight month to a new 17-year high of 21.47 percent from 21.09 percent in October, according to data released by the National Bureau of Statistics (NBS) on Thursday.