Nigeria’s inflation rate rises to 11.23% in August

The National Bureau of Statistics (NBS) has reported that Nigeria’s Consumer Price Index, (CPI), which measures inflation, increased by 11.23 percent (year-on-year) in August 2018. The CPI for August represented 0.09 percent points higher than the 11.14 percent rate recorded in July and also the first year-on-year rise in headline inflation following eighteenth consecutive disinflation […]

Economic analysts forecast rise in inflation rate

Analysts at Financial Derivative Company (FDC), Lagos-based economic and finance research firm, have projected a rise in inflation for the month of August on anticipated supplementary budget spending. In a post-MPC report made available to journalists, the analysts equally foresee declining private sector lending, increased unemployment and underemployment (40%) and an estimated Q2 GDP growth […]

Nigeria’s inflation slows to lowest rate in 30 months

Nigeria’s consumer prices rose at the slowest pace in 2 1/2 years in June as food costs climbed the least since March 2016. The annual consumer inflation rate was 11.2 percent from a year earlier, compared with 11.6 percent in May, the Abuja-based National Bureau of Statistics said in an emailed report Monday. The median […]

Nigeria’s inflation rate slows to 11.61% in May

The National Bureau of Statistics (NBS) reported today that the nation’s Consumer Price Index (CPI), which measures inflation, increased by 11.61 percent year-on-year in May 2018. The CPI rate represented 0.87 percent points less than the 13.34 percent rate recorded in April and the 16th consecutive disinflation trend since January 2017. The NBS in the […]

Nigeria’s inflation will remain double digits in 2018 – IMF

The International Monetary Fund (IMF) has projected that Nigeria’s inflation will remain in the double digits in 2018. In the April edition of its World Economic Outlook unveiled on Tuesday at the ongoing Spring meetings in Washington DC, the Bretton Wood institution said inflation rate will, however, moderate in both years. “Inflation in sub-Saharan Africa […]