The NBS said in its monthly report on CPI, released on Wednesday in Abuja, that the inflation rate increased by 0.16 percent points over 11.28% recorded in November 2018.
The report explained that increases were recorded in all Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the Headline index.
On month-on-month basis, the Headline index increased by 0.74 percent in December 2018, up by 0.06 percent points from the rate recorded in November 2018 (0.80) percent.
The percentage change in the average composite CPI for the 12 months period ending December 2018 over the average of the CPI for the previous 12 months period was 12.10 percent, showing 0.31 percent point from 12.41 percent recorded in November 2018.
According to the report, the urban inflation rate increased by 11.73 percent (year-on-year) in December 2018 from 11.61 percent recorded in November 2018, while the rural inflation rate increased by 11.18 percent in December 2018 from 10.99 percent in November 2018.
“On a month-on-month basis, the urban index rose by 0.76 percent in December 2018, down by 0.07 from 0.83 percent recorded in November 2018, while the rural index also rose by 0.72 percent in December 2018, down by 0.06 percent from the rate recorded in November 2018 (0.78) percent,” the report added.