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Tag: Inflation

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

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 […]

LCCI predicts reduced inflation in 2024
Business

LCCI predicts reduced inflation in 2024

The President of the Lagos Chamber of Commerce and Industry, Gabriel Idahosa, forecasts that the country’s inflation rate will decrease in 2024. The PUNCH reported that Idahosa who was speaking in an exclusive interview on Friday, blamed the loss of gasoline subsidies for the acceleration of inflation this year. According to the LCCI president, if governments at all levels […]

CBN stops foreign oil corporations from sending all fx proceeds abroad
Business

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 […]

inflation
Economy featured

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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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 […]

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

How declining businesses affect inflation – Report

The August Stanbic IBTC Purchasing Managers Index survey revealed that the private sector activity decreased halfway through the third quarter of the year as a result of weakening demand brought on by rising costs. The Punch reported that the input costs and output charges reportedly climbed to the greatest level since the survey’s start roughly ten […]

Economy featured

Nigeria’s inflation hits 24.08% – NBS

The National Bureau of Statistics has revealed that Nigeria’s inflation rate rose to 24.08 per cent in July 2023.   This, according to the latest report by the statistics agency, is the highest recorded leap in 2023 and in a while.   In June, inflation was recorded at 22.79 per cent, but has now risen […]

United Capital endorses CBN's stakeholder partnership
Economy

Inflation: Nigeria doing better than other African countries – CBN

According to the Central Bank of Nigeria, the country’s inflation rate is lower than that of the majority of African countries. This was said on Tuesday at the 2023 Zenith Bank International Trade Seminar by the acting governor of the Central Bank of Nigeria, Folashodun Shonubi.  The CBN’s Deputy Governor for Economic Policy, Kingsley Obiorah, spoke […]

Laptop dealers struggle amidst high costs, low demand
Tech

Laptop dealers struggle amidst high costs, low demand

Laptop prices have surged due to forex scarcity and high inflation, making it difficult for customers to cope with the increased costs. As a result, many prospective buyers turn away when they realize the prices are beyond their budgets, and as such the laptop market in Nigeria is facing tough times, with dwindling sales and […]

Economy featured

Inflation rate hits 22.79% in June – NBS

The National Bureau of Statistics on Monday disclosed that Nigeria’s inflation rate accelerated for the sixth consecutive time to 22.79 per cent in June 2023.   The News Agency of Nigeria reported that the inflation rate rose to a new 17-year high of 22.79 per cent in June 2023 from 22.41 per cent in the […]

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

Nigeria’s inflation may hit 30%, Bank of America warns

The Bank of America has cautioned that the Central Bank’s Monetary Policy Committee may need to raise interest rates by at least 700 basis points by the end of the year to control inflation. The bank’s sub-Saharan Africa economist, Tatonga Rusike, stated in an interview with Bloomberg on Monday that the increase was required to combat the skyrocketing […]

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