The National Bureau of Statistics (NBS) Friday revealed that prices of goods and commodities rose to 28.20 per cent in November compared to 27.33 per cent in the preceding month.
The Consumer Price Index (CPI) which measures the rate of change in prices of goods and commodities showed that year-on-year, headline inflation was also 6.73 per cent higher compared to 21.47 per cent recorded in November 2022.
According to the CPI report for the month under review, month-on-month, the headline index inflation rose to 2.09 per cent compared to 1.73 per cent in October.
In November, food inflation rose to 32.84 per cent year on year compared to 24.13 per cent in 2022.
The rise in the food index was attributed to increases in prices of bread and cereals, oil and fat, potatoes, yam and other tubers, fish, fruit, meat, vegetables and coffee, tea and cocoa, potatoes, yam and other tubers.
The core index, which excludes the prices of volatile agricultural produces and energy increased to 22.38 per cent year on year in November compared to 17.99 per cent in 2022.
The highest price increases was recorded in passenger transport by road, medical services, passenger transport by air, actual and imputed rentals for housing, pharmaceutical products, and accommodation service among others.
Month-on-month, core inflation rose to 1.53 per cent in November from 1.39 per cent in October.
Also, urban inflation rose 8.13 per cent to 30.21 per cent year on year compared to the 22.09 per cent in November 2022.
Month-on- month, the index also increased to 2.23 per cent from 1.81 per cent in October.
Similarly, rural inflation rose to 26.43 per cent year-on-year, up by 5.55 per cent compared to the 20.88 per cent in November 2022.
Month-on- month, rural inflation increased to 1.99 per cent compared to 1.67 per cent in the preceding month.
At State level, general inflation year on year was highest in Kogi (33.28 per cent), Lagos (32.30 per cent), and Rivers (32.25 per cent), while Borno (22.47 per cent), Katsina (24.91 per cent) and Plateau (25.53 per cent) recorded the slowest rise.
Month-on-month, prices were highest in Kano (3.55 per cent), Kebbi (3.34 per cent), Borno (3.24 per cent), while Taraba (0.74 per cent), Anambra (1.00 per cent) and Enugu (1.18 per cent) recorded the slowest rise.