Nigeria's Inflation Projected to Hit 32.34% in December Amid Festive Spending Surge

The report by Stanbic IBTC Bank forecasts Nigeria's inflation to rise to 32.34% in December 2025, driven by increased demand during the festive season. The inflation estimate is based on the Consumer Price Index (CPI) and reflects a 1.44% month-on-month increase.

Despite higher spending patterns, the Purchasing Managers' Index (PMI) indicates positive business conditions, with inflationary pressures expected to persist. Muyiwa Oni, Head of Equity Research at Stanbic IBTC Bank, highlighted a significant increase in input prices and manufacturing sector costs, leading to price hikes.

Overall, the economy shows signs of growth amid rising inflation.