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Tag: Inflation

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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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
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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 […]

inflation
Business featured

Nigeria’s inflation rate hits 21.91%

The National Bureau of Statistics on Wednesday reported that Nigeria’s inflation rate has risen to 21.91%. The increase in inflation rate accounts for about 0.09 per cent  from the previous January inflation rate of 21.82 per cent. This information was revealed by a recent Consumer Price Index report by the National Bureau of Statistics on […]

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Business

UK’s inflation drops to 10.1% in Jan 2023 – Report  

The UK recorded a fall in Consumer Price Inflation rate dropped beyond expectations from 10.5 in December to 10.1% in January. The closely watched measures of price growth also dropped according to official data. A prediction by the economists polled by Reuters stated that the CPI would drop in January by 10.3% from the 11.1% […]

Why Nigeria must save oil revenues - IMF
News

Shipping cost surge caused global inflation – IMF

  The International Monetary Fund has linked the current global inflation with the upsurge of the shipping costs. IMF stated in a newly composed report with the title “the costs of misreading inflation,” that by October, 2021, the indices of the cost of transporting containers by maritime freight had climbed by almost 600%, while the […]

Naira falls N777 against dollar after CBN announcement
Economy

Inflation weakened naira 15% in 2022 – NESG

Bisola David   A recently released report by the Nigerian Economic Summit Group revealed that the naira was devalued by 14.9% due to inflation, which was brought on by the Central Bank of Nigeria’s plan to redesign the currency.   In its 2023 Macroeconomic Outlook Report titled “Nigeria in Transition: Recipes for Shared Prosperity,” the […]

UK predicts rapid fall in inflation rate
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UK predicts rapid fall in inflation rate

The Bank of England Governor, Andrew Bailey, has said that there would be a likely rapid fall in inflation this year as the prices of energy declines. While he spoke to Media Wales, Mr Andrew said that the recently experienced ease of inflation could be a positive sign that “a corner has been turned”. The […]

News

Nigeria’s inflation drops 21 per cent

For the first time in 11 months, Nigeria’s inflation rate decreased to 21.34 percent. Prior to November 2022, when it hit 21.47 percent, the country’s inflation rate had climbed for 10 consecutive months. In its most recent report, the National Bureau of Statistics stated that the country’s inflation rate decreased by 0.13 percent between November […]

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