The National Bureau of Statistics released its latest inflation report revealing that November inflation rate was 18.5%. This was the highest inflation rate recorded in about 11 years and the 13th highest since 2003.
For a lot of Nigerians, the concept of inflation is not germane to them, except they can relate it to their everyday consumption expenditure. No other time is cost so significantly higher and relevant that the Christmas season.
Whilst inflation rate is said to be at an 11-year high of 18.5%, prices some of the items Nigerians rely on for their Xmas celebration have increased by as much as 40%.
Our research team, went to the market to get the data on prices this December (2016) versus prices last December (2015). Here is what we discovered.
