Friday, December 16, 2016

Video - Nigeria's inflation rises to record high of 18.48% in November

Nigeria is projecting its economy to grow at over 2 percent next year, rising from a current recession that analysts fear could drag into depression. The country has registered negative growth for the last three consecutive quarters, but president Buhari is betting 24 billion dollars to turn things around. He tabled his spending plan on Wednesday. Another thing that the country is grappling with is inflation. Annual inflation rose to 18.48 percent in November, the highest in more than 11 years, and the tenth straight monthly rise. The rise from 18.3 percent in October reflected higher prices for housing, electricity and food.

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