Rising inflation has driven Nigerians’ consumption expenditure to N57.08tn in the first half of 2022.
This is a 14.39 per cent increase from the N49.89tn that was spent in the corresponding period of 2021.
The NBS defined household final consumption expenditure as spending, which includes “imputed expenditure, incurred by resident households on individual consumption goods and services.
The agency further disclosed that household final consumption grew by 6.94 per cent and 17.64 per cent in the first quatre and second Quatre of 2022 respectively, on a year-on-year basis, in real terms.
