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Tag: Inflation

Nigeria's inflation rate dips first time in 19 months
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Nigeria’s inflation rate dips first time in 19 months

Nigeria’s inflation rate has decreased for the first time in 19 months, potentially signaling that the central bank’s successive interest rate hikes are beginning to take effect. This development offers a ray of optimism for Nigerians grappling with the nation’s worst cost of living crisis in decades. According to the latest data released by the […]

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South Africa’s consumer inflation rises to 5.6%

South Africa’s consumer inflation increased for the second time in a row in February, inching closer to the Central Bank’s upper target. Economists in the country stated this could imply longer waits for rate cuts. According to Reuters, headline consumer inflation rose to 5.6% year on year from 5.3% in January, Statistics South Africa data […]

Fuel, electricity tariff cap costly, IMF warns Nigeria
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Nigeria’s inflation may hit 44%, IMF warns

By Melvin Onwubuke   The international Monetary Fund recent post-financing assessment report concerning Nigeria, paints a bleak picture of the country’s economic future. According to nairametrics, IMF expressed concerns that Nigeria’s inflation rate could rise to an unparalleled 44%, if the CBN fails to make significant steps in tightening it’s monetary policy. The report highlights […]

Inflation in Nigeria continues to rise, reaching an all time high almost 30% in annual terms, attributed to rising food cost and the foreign exchange crises.
Business

Nigeria inflation nears 30%, highest in 26 Years

By Melvin Onwubuke   Inflation in Nigeria continues to rise, reaching an all time high almost 30% in annual terms, attributed to rising food cost and the foreign exchange crises. According to Reuters, consumer inflation rose for the 13th straight month in January to 29.9% Year on Year (YoY) from December’s 28.92% data from the […]

Nigeria's inflation will fall to 21% in 2024 - Cardoso
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Nigeria’s inflation will fall to 21% in 2024 – Cardoso

Despite rising food and commodity prices,  the governor of the Central Bank of Nigeria, Olayemi Cardoso, has guaranteed that Nigeria’s inflation rate will decline to 21.4% in 2024. Cardoso disclosed this to MPs during his briefing during the sectoral debate on the economy on Tuesday, February 6, 2024, in the House of Representatives. Cardoso bemoaned the […]

Inflation in Nigeria continues to rise, reaching an all time high almost 30% in annual terms, attributed to rising food cost and the foreign exchange crises.
Business

Nigeria’s Inflation hits 28.92% amid food price hike

Nigeria’s headline inflation jumped by 0.72 per cent to 28.92 per cent in December 2023, up from 28.20 per cent in November 2023, according to a report released on Monday by the National Bureau of Statistics. This is the highest level of average cost of goods and services since 1997, when the late General Sani […]

How inflation, forex crisis may affect consumer goods industry - Report
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How inflation, forex crisis may affect consumer goods industry – Report

Persistent inflation and currency issues are expected to have an impact on the fourth-quarter financial results of enterprises operating in the consumer products sector of the economy in 2023. According to The PUNCH, this was announced in Meristem Securities Limited’s Consumer Goods Sector Update for December 2023. According to the research, foreign exchange losses for […]

CBN stops foreign oil corporations from sending all fx proceeds abroad
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Inflation, exchange rate to drop in 2024 – CBN

The Governor of the Central Bank of Nigeria, Yemi Cardoso, has remarked that rising inflation and exchange rates are projected to drop in 2024. The chief of the central bank also predicted that oil export earnings would decline in the coming year. The CBN governor gave these observations on Thursday in Abuja when he addressed the Joint […]

Inflation in Nigeria continues to rise, reaching an all time high almost 30% in annual terms, attributed to rising food cost and the foreign exchange crises.
Business

Nigeria’s inflation hits 27.33% in October

Nigeria’s headline inflation rate increased to 27.33% in September 2023, up from 26.72% in September 2023. In October 2023, the headline inflation rate increased by 0.61% points when compared to the September 2022 number. Nairametrics reported that compared to October 2022 when the rate was recorded as 21.09%, the headline inflation rate was 6.24% points higher year […]

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Inflation hits 26.72% in September — NBS

The National Bureau of Statistics on Monday announced that inflation surged to 26.72 per cent in September. This is a 0.92 percentage point increase from the 25.80 per cent in August. The NBS revealed this its CPI report for September which it released on Monday. “September 2023, the headline inflation rate increased to 26.72 per […]

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  • October 16, 2023
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Nigeria's inflation rate dips first time in 19 months
News

Nigeria’s inflation hits 25.80% – NBS

      The Consumer Price Index report for August 2023, which was released by the National Bureau of Statistics on Friday, shows that Nigeria’s inflation rose to 25.80% in August 2023, which is 1.72% higher than the previous month’s rate of 24.08%. According to the report, the significant increase reflects the impact of the […]