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Tag: Inflation

inflation
Economy

Nigeria’s inflation hits 19.64%

Nigeria’s inflation rate hit a 17-year high of 19.64 per cent in July just a month after surging to 18.6 per cent recorded in June 2022. This was disclosed in a Consumer Price Index report for the month of July 2022 according to the National Bureau of Statistics. Food inflated to 22.02% from the 20.6% […]

inflation
Economy

Nigeria’s inflation hits 20%, surpasses World Bank’s projection

Nigeria’s inflation rate is now at 20 per cent, 0.5 per cent above the World Bank’s projection of 15.5 per cent, despite raising its Monetary Policy Rate (interest rate). In its recent ‘Nigeria Development Update (June 2022): The Continuing Urgency of Business Unusual,’ the global bank projected that Nigeria’s inflation rate was going to be […]

inflation
Economy

Nigeria’s inflation hits 18.6%, highest in five years

The Consumer Price Index, which measures the rate of change in prices of goods and services, surged to 18.60 per cent in June 2022, up from 17.71 per cent in the previous month. According to reports, this is the highest since January 2017. The National Bureau of Statistics said this in its consumer price index […]

Buhari
Economy

World Bank faults Buhari regime’s response to inflation

The World Bank has faulted the response of the regime of the President, Major General Muhammadu Buhari(retd), to the inflation suffered by Nigeria. According to a statement released by the Washington-based bank, the Federal government’s response is inadequate as the country continues to suffer double-digit inflation. The apex bank, in its latest Nigeria Development Update […]

Economy

Homebuyers feel inflation squeeze amid recession fears

While the housing market continues to get battered by rising interest rates and sky-high prices, Redfin’s CEO warned that homebuyers are feeling the inflation squeeze as the U.S. is “headed for recession.” “People who are looking to buy homes right now are still driven by the same factors,” Redfin CEO Glenn Kelman told “Cavuto: Coast […]

inflation
Economy

43% homeowners delayed improvements due to inflation – Report

Sixty per cent of homeowners, in a recent survey, said they were less comfortable making large purchases for their homes or households because of rising prices, according to Hippo Insurance’s 2022 Homeowner Preparedness Report. Nearly 43 per cent either strongly (14.4 per cent) or somewhat (28.4 per cent) agreed that inflation had caused them to […]

Economy

Cost of 12.5kg cooking gas rises to N9,400

The cost of cooking gas has become the latest inflation news to hit the spotlight, after the rise of the Consumer Price Index to 16.82 per cent in April from 15.92 per cent in March. AMBuisness gathered that a 12.5kg cylinder of household cooking gas in the country which went for N7,000 in September 2021, […]