December 2023 Inflation review – Inflation rises to 27-year high

Analyst: Ibukun Omoyeni* Consumer price inflation ascended to 28.92% y/y, 20bps lower than our estimate (Vetiva: 29.12% y/y) and 72bps above the prior month (Nov23: 28.20% y/y). This represents the highest turnout since August 1996. We attribute the turnout to elevated transport prices, impediments in the agricultural sector, and year-end festivities. On a month-on-month basis,…

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