Federal finance and statistics / National Bureau of Statistics

CPI and Inflation Report November 2023

Executive Summary In November 2023, the headline inflation rate increased to 28.20% relative to October 2023 headline inflation rate which was 27.33%. Looking at the movement, the November 2023 headline inflation rate showed an increase of 0.87% points when compared to October 2023 headline inflation rate. On a year-on-year basis, the headline inflation rate was 6.73% points higher compared to the rate recorded in November 2022, which was 21.47%. This shows that the headline inflation rate (year-on-year basis) increased in November 2023 when compared to the same month in the preceding year (i.…