Business

Analysts project slowdown in Nigeria’s Inflation rate for December

Ihesiulo Grace 16 January 2023 0

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

Top Stories

Inflation rate hits highest in 17yrs high, at 21.47% in November

Ihesiulo Grace 16 December 2022 0

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 […]

Business

Nigeria’s inflation rate accelerates to 20.52%, highest in 17 years

Ihesiulo Grace 16 September 2022 0

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 […]

Business

Nigeria’s inflation rate hits 19.64% in July-NBS

Ihesiulo Grace 15 August 2022 0

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) […]

News

Inflation drops by 0.37% in July – NBS

Ihesiulo Grace 18 August 2021 0

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 […]

Business Top Stories

Nigeria records 18.1% worst inflation rate in 4yrs

Ihesiulo Grace 16 April 2021 0

*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 […]

News

COVID-19, borders closure, others jack up inflation in Nigeria

Ihesiulo Grace 16 December 2020 0

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 […]

Money

‘Insecurity, prolonged border closure behind inflation hike to 14.23%’

Ihesiulo Grace 17 November 2020 0

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 […]

Business

Nigeria’s inflation rate 13.7%, highest in 30 months

Ihesiulo Grace 15 October 2020 0

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 […]

Business News

Bakers in Nigeria plan to increase bread price

Ihesiulo Grace 11 September 2020 0

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 […]

Business

Inflation rises to 12.34% in April — NBS

Ihesiulo Grace 21 May 2020 0

 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 […]

Business

Nigeria’s inflation hits 12.13%, highest since April 2018

Ihesiulo Grace 19 February 2020 0

.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 […]

Politics

‘Zamfara state university project: We noticed over inflation of contract sum’

Ihesiulo Grace 12 February 2020 0

Gusau – The Zamfara State Projects Verification Committee on Tuesday alleged that the immediate past administration of former Gov. Abdul’aziz Yari, spent N3 billion on the ongoing Zamfara State University project. The university project is sited at Yari’s home town, Talata Mafara. The Chairman of the committee, Alhaji Ahmad Zabarma, made the disclosure at the […]

Featured

VAT increment would contribute to inflation rise – Minister of Finance

Ihesiulo Grace 1 February 2020 0

Lagos – Dr Zainab Ahmed, Minister of Finance, Budget and National Planning, on Friday said that Value Added Tax (VAT) increment would contribute to inflation rise, said that it would moderate over time. She further dispelled the report that the Federal Government was planning to borrow N2trillion pension funds for infrastructure development. Ahmed stated this […]

News

Inflation hits 11.85% – NBC

Ihesiulo Grace 17 December 2019 0

National Bureau of Statistics has revealed that the consumer fee index that measures inflation accelerated to 11.85% in November.  According to the inflation report launched on Tuesday, the inflation price multiplied with the aid of 0.24 percentage factors from the 11.61% recorded in October. 

Business

Closure of Seme border: Analysts project hike of inflation rate in September

Ihesiulo Grace 10 October 2019 0

Financial Derivates Company (FDC) Limited has said inflation rate in September may likely to spike to 11.22 per cent, attributable to closure of the Seme border by the federal government to curb inflow of imported rice, others. The company in its report noted that the increase in inflation rate is coming after three months of […]

Business News Top Stories

Inflation declines to 14.33 %, as experts project further slow in Q2

Ihesiulo Grace 15 March 2018 0

Nigeria’s Inflation rate as measured by the Consumer Price Index (CPI) has improved further to 14.33 per cent in February, compared to 15.13 settled in January, but financial experts believed The National Bureau of Statistic (NBS), on Wednesday, said the nation’s inflation slowdown to 14.33 per cent (year-on-year) in February, making it 13th consecutive disinflation […]

Business Top Stories

Inflation rate decelerates further, now 14.33%

Ihesiulo Grace 14 March 2018 0

The National Bureau of Statistics (NBS) has published February 2018 inflation report, showing that Nigeria’s headline consumer price index extended deceleration (which started in 2017) to the thirteenth consecutive month. Headline inflation was 14.33% y/y in February, moderating from 15.13% y/y in January. The data came in 33 bps and 28 bps below Cordros Capital […]

Business Money

2018 outlook: Experts project 12.9% inflation rate in 2018

Ihesiulo Grace 18 January 2018 0

Following the latest report by the National Bureau of Statistics (NBS) that the Nigeria’s annual inflation has slowed for the 11th consecutive period in December, analysts at CardinalStone Research have predicted improved rate of 12.9 per cent by end of December 2018. The new statistic report showed that the rate eased to 15.37 per cent […]

Business Money

Inflation slows for 10th consecutive period, eases to 15.90%

Ihesiulo Grace 19 December 2017 0

The Nigeria’s annual inflation has slowed for the 10th consecutive period in November, easing to 15.90 per cent against15.91 per cent recorded in October 2017, the new report by the National Bureau of Statistics (NBS) on Monday has revealed. The new food price index showed inflation at 20.30 per cent in November, compared to 20.31 […]