The battle against inflation challenges
The country’s monetary authority, in a bid to take hold of the price stability, has kept all its rates steady, at least, for the past 25 months, involving 12 bi-monthly sessions, specifically for purposes that run around inflation.
CBN orders lending to agric sector, inflation rises on food items
The Central Bank of Nigeria (CBN) has directed deposit money banks to increase lending to the agricultural sector to check rising food prices. This followed its 262nd Monetary Policy Committee (MPC) meeting held from Monday, July 23 to Tuesday, July 24, 2018. It pegged the interest rate of such lendings at nine per cent per…
Price pressure remains amidst decelerated headline inflation
Though the nation’s headline consumer price index extended deceleration (which started in 2017) to the seventeenth consecutive month recording a rate of 11.23% year-on-year in June, moderating from 11.61% year-on-year in May, the headline index increased by 1.24% (vs. 1.09% the previous month) on month-on-month basis. The percentage change in the average composite CPI for…
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.
Inflation to fall further, increase calls for rate cut
The lower than expected increase in consumer prices recorded in the month of June has been projected to cause more decline in inflation level, reduce cost of borrowing by government and raise further call for interest rate cut.
Nigeria’s inflation rate dropped to 13.34% in March, says NBS
Nigeria’s inflation rate measured by the Consumer Price Index (CPI) dropped from 14.33 in February to 13.34 per cent in March year-on-year, the National Bureau of Statistics (NBS) disclosed in its CPI report for March.
Nigeria's inflation slows to two-year low
Nigerian inflation slowed for a 14th straight month in March, taking consumer-price growth below the benchmark interest rate for the first time in two years and opening the door for a rate cut. Consumer inflation in Africa’s most-populous nation decelerated to 13.3 percent from a year earlier, the lowest rate in two years and below…
Experts hopeful inflation rate drops to single digit midyear
A report by FSDH Research team has predicted inflation rate to drop to single digit in July 2018, provided there is no adjustment to the price of Premium Motor Spirit (PMS) and electricity tariff, while government resolves to stop the rising crises in some parts of the country quickly. Besides, the team expects the inflation…
Nigeria inflation slowed for 12th month in January
Annual inflation in Nigeria slowed for the 12th month in a row in January to 15.13 percent, compared with 15.37 percent in December, the National Bureau of Statistics (NBS) said on Wednesday. A separate food price index showed inflation at 18.92 percent in January, compared with 19.42 percent in December. ”The rise in the food…
British inflation steady at five-year high in October
Britain's annual inflation rate steadied at a five-year high of 3.0 percent in October as rising food prices offset falling motor fuel costs, official data showed Tuesday.