Federal finance and statistics / National Bureau of Statistics

CPI and Inflation Report December 2022

Executive Summary In December 2022, the headline inflation rate eased to 21.34% compared to November 2022 headline inflation rate which was 21.47%. Looking at the trend, December 2022 inflation rate showed a decline of 0.13% when compared to November 2022 inflation rate. However, on a year-on-year basis, the headline inflation rate was 5.72% points higher compared to the rate recorded in December 2021, which was (15.63%). This shows that the headline inflation rate increased in the month of December 2022 when compared to the same month in the preceding year (i.e., December 2021). On a month-on…