Again, inflation soars to 12.34%

Yam, bread, fruits, others top prices in April     The lockdown of economy activities occasioned by coronavirus pandemic pushed up Consumer Price Index (CPI) – inflation measurement – in April to 12.34 per cent compared to March figure of 12.26 per cent, monthly inflation data from National Bureau of Statistics (NBS) has confirmed. The April 2020 figure is 0.08 per cent points higher than the rate recorded in March 2020 (12.26 per cent) as increases were recorded across divisions. Rise in food index occurred in higher prices in items…

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Inflation notches up to 11.23% in August

The monthly inflation notched up for the first time by 0.09 per cent in the month of August to 11.23 percent from July’s figure of 11 .14 per cent, National Bureau of Statistics (NBS) announced Friday. The slight rise represents the first year-on-year rise in headline inflation following 18th consecutive disinflation in headline inflation. NBS report said although increases were recorded in all divisions, food inflation was highest as it rose by 13.16 per cent last month compared to 12.85 per cent in July. “This rise in the food index…

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Inflation notches up to 11.23% in August

The monthly inflation notched up for the first time by 0.09 per cent in the month of August to 11.23 per cent from July’s figure of 11 .14 percent, National Bureau of Statistics ( NBS) announced Friday. The slight rise, represents the first year-on-year rise in headline inflation following 18th consecutive disinflation in headline inflation. NBS report said that, although increases were recorded in all divisions, food inflation was highest as it rose by 13.16 per cent in August 2018 compared to 12.85 per cent in July 2018. “This rise…

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Inflation rate drops to 11.14% July- NBS

For the eighteenth consecutive time in a row, the Consumer price index, (CPI) which measures inflation crashed to 11.14 % in July from June figure of 11.23%, National Bureau of Statistics ( NBS) announced Wednesday. The latest fall represents 0.09 per cent points less than the rate June 2018 (11.23 percent). NBS’ data analysis showed that, On a month-on-month basis, the headline index increased by 1.13 percent in July 2018, down by 0.11 percent points from the rate recorded in June 2018 (1.24 percent). This represents the first-time month on…

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Inflation crashes fifteen times in a row, settle at 12.48 in April- NBS

The Consumer Price Index (CPI), a module for measuring inflation continued its downward trend trajectory and settled at 12.48 percent in April 2018. The latest figure confirmed yesterday by National Bureau of Statistics ( NBS) represents 0.86 percent less than March figure of 13.34; fifteenth consecutive crashes in inflation figure since January 2017. The disinflation has been variously predicted by experts and analysts, citing impacts of reforms by fiscal and monetary authorities. CPI measures the average change over time in prices of goods and services consumed by people for the…

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Nigeria’s inflation dips to 13.34%

Annual inflation in Nigeria stood at 13.34 percent in March, down from 14.33 percent in February, the National Bureau of Statistics said on Thursday. A separate food price index showed inflation at 16.08 percent, down from 17.59 percent, reports Reuters. The bureau in the report said the 13.34 per cent rate for March is 0.99 percentage points less than the 14.33 per cent recorded in February. The report said this is the fourteenth consecutive months since January 2017 that the country would be experiencing slowdown in inflation. It reads in…

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JUST IN: Inflation down for 13th month in February – NBS

Annual inflation in Nigeria stood at 14.33 percent in February, slowing for the 13th month in a row and driven by a decline in the pace of food price increases, the statistics office said on Wednesday. The food price index showed inflation at 17.59 percent in February, compared with 18.92 percent in January. Core inflation was 15.13 percent last month. NBS head Yemi Kale said in January he expects inflation to fall faster this year compared with 2017, but that spending ahead of 2019 presidential elections could stoke prices. Food…

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FDC: December inflation to hit 15.9%

  After 10 months of consecutive declines, Nigeria’s inflation rate will climb to 15 .94 per cent in December from 15.90per cent in November 2017, Lagos-based financial services firm, Financial Derivatives Company (FDC) Limited, has predicted. In a report obtained by New Telegraph, the firm stated : “The anticipated change in inflation is mainly due to seasonality, as December is characterized by higher spending (Christmas effect) and supply shocks caused by the fuel crisis.” The FDC argued that the projected increase in inflation, coming against the backdrop of the looming…

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Inflation: Experts’ perspectives on single digit target

In the last six months, the headline inflation has been subdued, trending down consecutively month after month; though still within double-digit circle, the Central Bank has promised to crash it to a single digit by 2018, just as experts offer their perspectives on the target. ABDULWAHAB ISA reports   The Consumer Price Index (CPI), which measures inflation, has been trending down, going by monthly inflation data from the National Bureau of Statistics (NBS). The latest in the series was the October figure released recently. The headline inflation decreased to 15.91…

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NBS: Monthly inflation down to 15.98%

Nigeria’s inflation curve sustained its downward trend in September with headline inflation, sliding down slightly to 15.98% as against August figure of 16.01%, latest data obtained from National Bureau of Statistics (NBS) showed. However, food prices also sustained their notch up posturing as major basic foods like eggs, yams recorded price increase during the month under review. Core inflation (year-on-year) slide down to 12.1% in September from 12.3% in August while food (year-on-year) rose to 20.32% in September as against August figure of 20.25% respectively According to price watchdog, “Selected…

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