..As food prices skyrocketed to 33.93% By Motolani Oseni Nigeria’s headline inflation rate rose to 28.92 per cent in December 2023 from 28.20 per cent in November, highest in 27-year, the National Bureau of Statistics (NBS) said Monday. Similarly, the food inflation rate in December 2023 quickened to 33.93 per cent on a year-on-year basis, […]
By Godwin Anyebe High inflation will dog the world economy next year, with three-quarters of over 200 economists polled by Reuters saying the main risk is that it turns out higher than they forecast, suggesting interest rates will also remain higher for longer. Several central banks are still expected to begin cutting interest rates by […]
…As food inflation increases by 4.97% to 26.98% By Motolani Oseni The National Bureau of Statistics (NBS) on Tuesday disclosed that Nigeria’s inflation rate rose to 24.08per cent in July, 2023, about 1.29 per cent increase from 22.79 per cent reported in June 2023. This is even as the Food inflation rate increased by 4.97 […]
…in 18 years …24.08% in July, says NBS …Food inflation increases by 4.97% to 26.98% …Oil,bread,tubers, fish,meat,others sorely affected By Motolani Oseni Another measure of the nation’s economic health and that of majority of the citizenry- came yesterday as the National Bureau of Statistics (NBS) disclosed that Nigeria’s inflation rate rose to 24.08 per cent […]
Analysts have projected that the Nigeria’s May inflation rate to hit a new 17-year high, as Nigerian Bureau of Statistics (NBS) releases last month Consumer Price Index (CPI) report today. The anticipated increase is attributed to a three per cent decline in the official exchange rate and an 18 per cent growth in the money […]
As food inflation increased to 24.61% YoY By Motolani Oseni Despite the efforts of the monetary tightening that started last year to curtail the rising inflation, Nigeria’s headline inflation rate jumps to 22.22 per cent in April, the National Bureau of Statistics (NBS) latest report has revealed. The NBS latest report, which was obtained by […]
By Joy Obakeye The United Nations has said Nigeria’s economy will grow by three per cent in the year, stating that despite high inflation and poor power supply in the country, the economy would benefit from robust commodities trade and dynamic consumer goods and services markets. UN disclosed this in its latest report entitled: ‘2023 […]
*As food inflation drops to 23.75% in December By Joy Obakeye Nigeria’s headline inflation rate slowed to 21.34 per cent in December 2022 from 21.47 per cent in November, the National Bureau of Statistics (NBS) latest report has revealed. The NBS disclosed this on Monday in its Consumer price index (CPI) report which measured the […]
Despite higher prices paid on petrol pump prices across the nation in the latter part of 2022, analysts, however, estimate a lower inflation rate for December. In a market brief released, investment banking firm, Afrinvest Limited, said a high base-year effect will spur the first disinflation in 11 months. The statistics office is expected to […]
By Joy Obakeye ` Nigeria’s inflation rate surged to 21.47 per cent in November from 21.09 per cent recorded in October, representing the 10th consecutively monthly increase since the start of the year. This was disclosed by the National Bureau of Statistics (NBS) in its Consumer price index (CPI) report which measured the monthly change […]
By Motolani Oseni Nigeria’s headline inflation rate accelerated by 88 basis points to 20.52 per cent year on year in September 2022 from 19.64 per cent in August, the National Bureau of Statistics (NBS) latest report has revealed. The current inflation reading is the highest since September 2005 when the Consumer Price Index (CPI) settled […]
Joy Obakeye Nigeria’s inflation rate in the month of July 2022 rose to 19.64 per cent from 18.6 per cent recorded in the previous month of June 2022 which means a 1.82 per cent month-on-month hike. This was disclosed in a report on Monday by the National Bureau of Statistics (NBS), ‘Consumer Price Index (CPI) […]
The National Bureau of Statistics (NBS) said inflation dropped by 0.37 per cent to 17.38 per cent in July, from 17.75 per cent recorded in June. The NBS said this in its “Consumer Price Index (CPI) July 2021 Report” released on Tuesday in Abuja. The inflation rate has been on a steady decline for four […]
*Food prices pushing inflation upwards-Expert *As Nigeria GDP for 2020 dropped by-1.9% in Q4 BY MOTOLANI OSENI AND PHILIP CLEMENT Official data from the Nigeria Bureau of Statistics (NBS) has shown that the nation’s core inflation increased by 18.17 per cent (year-on-year) in March 2021. This is 0.82 per cent points higher than the 17.33 […]
By Tunde Shorunke & Philip Clement Consumer Price Index which is largely determined by the country’s rising food prices, rose to 14.89 per cent in November, representing a 0.66 per cent points, higher than the 14.23 per cent recorded in October 2020. The National Bureau of Statistics (NBS) disclosed this in its November inflation report […]
By Philip Clement Following inflation increase by 14.23 per cent, year-on-year, in October 2020, a renowned economist, Prof. Uche Uwaleke has said that the prolonged border closure and insecurity has triggered inflation prices across the country. The National Bureau of Statistics (NBS) on Monday said that the Consumer Price Index, (CPI) which measures inflation rose […]
Nigeria’s inflation rose to 13.7 per cent in September, hitting its highest level since its 13.34 per cent rate of March 2018. The National Bureau of Statistics disclosed this in its Consumer Price Index report for September on Thursday. Part of the report read, “The consumer price index which measures inflation increased by 13.71 per […]
On Thursday, bakers in Nigeria announced the possibility of increasing the prices of bread on account of rising costs of sugar, flour, fuel and electricity. As gathered by Daily Times, the declaration came the same day the Nigerian government banned forex on all food and fertiliser imports into Nigeria. The Premium Breadmakers Association of Nigeria (PBAN) and […]
The National Bureau of Statistics (NBS) says the Consumer Price Index (CPI), which measures inflation, increased by 12.34 per cent year-on-year in April 2020. The NBS made this known in its latest CPI and Inflation Report for the month of April released on Thursday. It stated that this figure showed 0.08 per cent points higher […]
.Nigerians shouldn’t worry, it’s a temporary phenomenon, says Expert For the first time in nearly two years, Nigeria’s inflation has reached an all time high of 12.13 per cent; the latest figure from the National Bureau of Statistics (NBS) has revealed. The Consumer Price Index (CPI) which measures inflation increased by 12.13 per cent year-on-year […]