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Tag: Inflation

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 […]

News

Inflation would be worse if not for CBN policy – Emefiele

The governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, has said that the country’s inflation would have increased by more than 800 basis points had the bank not pursued a contractionary monetary policy that started in May 2022. According to Arise News, without the efforts of the bank, Emefiele stated that the inflation rate […]

Nigerians in the UK face job loss over sponsorship eligibility
Economy

UK’s inflation drops to lowest first tine in one year

Britain’s inflation rate dropped its lowest level in more than a year in the month of April 2023 as the effects of the surge in energy prices in 2022 started to ease.   Britain’s Office for National Statistics, on Wednesday, reported that consumer prices in Britain rose 8.7 per cent from a year earlier, the […]

Group urges president-elect to create enabling environment for private sector
Economy

Economic group tells Tinubu how to end rising inflation

An economy oriented group has urged the incoming government of President-elect, Bola Ahmed Tinubu, to address foreign reserves inadequacies as the solution to rising inflation.   In April, the National Bureau of Statistics announced in its latest Consumer Price Index that the country’s inflation rate is 22.22 per cent.   The Chief Executive Director of […]

Inflation rate records 22.22% increase
News

Inflation rate records 22.22% increase

    The inflation rate in Nigeria rose to 22.22 percent in April from the 22.04 percent recorded in March, marking the fourth consecutive month of growth. This is in accordance with the National Bureau of Statistics’ Commodity Price Index data, which was released on Monday. In comparison to March 2023, the headline inflation rate […]

Nigerian food exports rise amid naira devaluation concerns
featured News

Nigeria’s inflation rate hits 22% – NBS

  The National Bureau of Statistics on Saturday revealed that the nation’s inflation rate rose to 22.04% in March 2023. According to The PUNCH, the percentage is 13.4 percentage points higher than the 21.91% seen in the prior month. It was noticed that food prices increased by 24.45% in March 2023 compared to 24.35% in […]

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