The Federal Government has reiterated its commitment to implementing global best practices in the rebasing of the Consumer Price Index (CPI) and Gross Domestic Product (GDP), as well as in the conduct of the Nigeria Living Standards Survey (NLSS).
The Consumer Price Index (CPI) for Housing, Water, Electricity, Gas, and Other Fuels (altogether referred to as ‘household bills’) has surged by 27.64% over the past year, reflecting a substantial increase as Nigerians grapple with escalating inflation rates and declining incomes.
The National Bureau of Statistics (NBS) released Nigeria's monthly Consumer Price Index (CPI) report for Nigeria last week Friday, revealing a headline inflation rate of 28.2% for November 2023.
The cost of single-phase meters has been raised from N58,661.69 to N81,975.16, while the price for three-phase meters has jumped from N109,684.36 to N143,836.10.
KPMG Nigeria's Chief Economist, Dr Yemi Kale, has projected that Nigeria's inflation would rise to 30% in June 2023.
Nigeria's inflation rate for the month of July 2021, dropped further to 17.38% compared to 17.75% recorded in...
Nigeria's inflation rate dropped for the first time in 20 months to stand at 18.12% in April 2021
Nigeria's inflation rate for the month of March 2020, rose to 18.17% from 17.33% recorded in February 2021.
Nigeria is now the second most corrupt country in W/Africa with Guinea-Bissau the only country more corrupt than Nigeria in the region.
This is 0.86% points higher than the rate of 14.89% recorded in November 2020.
Nigeria's inflation rate rose by 14.23% in October 2020 as against 13.71% recorded in September 2020
Nigeria's inflation rate rose by 12.82% (year-on-year) in July, compared to 12.56% recorded in June 2020. This is...
