Home Business News FSDH Merchant Bank predicts further decline in Nigeria's inflation rate

FSDH Merchant Bank predicts further decline in Nigeria’s inflation rate

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FSDH Merchant Bank Limited has predicted a further decline in Nigeria’s inflation rate to 11.23 percent in April 2019. This prediction follows the recent drop of three consecutive months from 11.44 percent in December 2018 to 11.25 percent in March 2019.

This trend continued in April, although FSDH believes that it could be reversed in the coming months should there be any adjustment to the pump price of petrol.

The Head of Research at FSDH Merchant Bank, Ayodele Akinwunmi was quoted as saying the following:

“FSDH Research expects the April 2019 inflation rate to drop marginally to 11.23 percent from 11.25 percent in March. Inflation rate may remain in the low double-digit in the remainder of 2019. Possible adjustments to the pump price of Premium Motor Spirit (PMS) and electricity tariff may shift the inflation curve by 2.5 percent.”

Recall that the International Monetary Fund (IMF) had enjoined the Federal Government to keep inflation down and also grow non-oil revenue if the economy must perform optimally.

Single digit inflation is possible: The Central Bank of Nigeria (CBN) has disclosed that it is possible for Nigeria to strike single digit inflation before the end of the fourth quarter of 2019.

This was disclosed by the CBN Governor, Godwin Emefiele. He added that the country is on the path to achieving price stability goal for single level inflation.

Nigeria’s inflation expected to maintain double-digit in the next one year: Despite this positive projection by the CBN’s Governor, the Nigerian apex bank has stated that Nigeria’s inflation rate is expected to moderate around the double-digit for the next one year.

This was revealed in the latest CBN monthly business expectation survey for the month of April.

Coronation Research

About the company: FSDH Merchant Bank Limited was incorporated in June 1992, as the first discount house to operate in Nigeria. In the new era, FSDH Merchant Bank Limited was one of the first merchant banks to be granted a license to operate in Nigeria as a merchant bank.

Coronation Research

Over the years, the FSDH Group has become a major player in the financial services sub-sector, delivering expert financial services in the Nigerian market to its select clientele and thereby assisting them to create long term sustainable wealth.

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