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inflation

Inflation Hits 11.37% As Food Prices Increase

The National Bureau of Statistics has said the increase in food prices resulted in higher inflation in April. This was contained in a report on its website, showing that the Consumer Price Index which measures inflation, increased by 11.37 percent (year-on-year) in April 2019, signifying a 0.12 percent increase as compared to the 11.25 percent rate recorded in March 2019. “On a month-on-month basis, the headline index increased by 0.94% in April 2019, this is 0.15% rate higher than the rate recorded in March 2019!-->!-->!-->!-->!-->…

Nigeria’s Inflation Rises Again – NBS

The National Bureau of Statistics (NBS) says the Consumer Price Index, (CPI) which measured inflation for September increased to 11.28 per cent (year-on-year) from 11.23 per cent recorded in August. The NBS disclosed this in its “CPI and Inflation Report” for September released in Abuja. According to the Bureau, the figure is 0.05 per cent points higher than the rate recorded in August. The report showed that increases were recorded in all the Classification of Individual Consumption by Purpose (COICOP) divisions…

BREAKING: Inflation Rises For First Time In 18 Months

The consumer price index, (CPI) which measures inflation increased by 11.23 percent (year-on-year) in August 2018, the National Bureau of Statistics reports. In its CPI report, released on Friday, the latest figure is 0.09 percent points higher than the rate recorded in July 2018 (11.14) percent and represents the first year on year rise in headline inflation following eighteenth consecutive disinflation in headline inflation. According to the report, increases were recorded in all Classification of Individual…

Inflation Drops For 18th Consecutive Month

The Consumer Price Index which measures inflation dropped by 0.09 per cent points from 11.23 per cent in June to 11.14 per cent in July, the National Bureau of Statistics says. The NBS, in its report released on Wednesday, said this is the eighteenth consecutive disinflation in headline index. The report reads in part, “The consumer price index, which measures inflation increased by 11.14 per cent (year-on-year) in July 2018. “This is 0.09 per cent points less than the rate recorded in June 2018 and represents an…

Inflation Drops By 0.37% As Food Prices Continues To Rise

Nigeria’s annual inflation rate dropped to 11.23% for its seventeenth consecutive decline, but food prices continue to rise. The National Bureau of Statistics (NBS) disclosed this in its Consumer Price Index report titled ‘CPI and Inflation Report June 2018’, released on Monday, in Abuja. The latest figure is 0.37% points less than the rate recorded in May 2018 (11.61%) and lowest in almost three years. The NBS Data showed that month-on-month inflation rose from 1.09% points in May to 1.24% points in June.…

Inflation Drops For 14th Consecutive Month, Now 13.34%

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. The bureau stated in the CPI report released on Thursday in Abuja that the figure showed 14 consecutive reductions in inflation rate since January 2017. According to the bureau, the figure is 0.99 per cent points less than the 14. 33 per cent recorded in February. The NBS, however, noted that…

Nigeria’s Inflation Drops For 13th Straight Month

Annual inflation in Nigeria stood at 14.33 per cent in February, slowing for the 13th month in a row. It is 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 per cent in February, compared with 18.92 per cent in January. Core inflation was 15.13 per cent 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…

Nigerian Economy To Grow By 2.5% In 2018 – World Bank

The World Bank forecasts that economic growth in Nigeria would edge up to at least 2.5 per cent in 2018, as the country benefits from improved commodity prices, investments and trade. According to the World Bank’s January 2018 Global Economic Prospect report launched on Tuesday in Washington DC, Nigeria’s Gross Domestic Product (GDP) is expected to grow by 2.8 per cent in 2019 and 2020. The World Bank forecast that global economic growth will go up to 3.1 per cent in the year 2018. According to the bank, growth in…

Nigeria’s Inflation Drops Marginally To 15.91% In October

The National Bureau of Statistics, NBS, says inflation rate, measured by the Consumer Price Index, CPI, has further dropped to 15.91 per cent in October from 15.98 recorded in September. The NBS disclosed this in its “CPI Oct. 2017 Report’’ released on Wednesday in Abuja. The CPI, which measured inflation, increased by 15.91 per cent (year on Year) in October 2017. According to the bureau, this is 0.07 per cent points lower than the rate recorded in September (15.98) per cent. It said the index made it the ninth…

Inflation Drops For 7th Consecutive Month To 16.01%

The Consumer Price Index which measures inflation dropped for the seventh consecutive month in 2017  to 16.01 percent in August. Data released by the National Bureau of Statistics on Friday indicated that the CPI declined by 0.04 percent from 16.05 as recorded in August. On a month-on-month basis, the NBS report said the headline index increased by 0.97 per cent in August 2017, representing a 0.24 per cent points decline over the rate of 1.21 percent recorded in June. However, food prices continued to surge,…
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