Tag
INFLATION
Nigeria's historical consumer price index which shows our inflation rate from 2003 till date. The data is updated monthly.
Experts at the ongoing Global Trade Review West Africa have explained why the recent strengthening of the naira in the FX market has not affected prices of goods and services across the country.
Nigeria’s inflation rate increased to 33.2% for the month of March 2024 according to the latest data from the National Bureau of Statistics (NBS).
Naira has appreciated from a record low of around N1,900/dollar to N1,148/dollar as of April 12, prompting the US investment bank, Goldman Sachs, to pronounce it the best performing currency in the world in April.
The level of inflation in the country for the month of March 2024 and experts interviewed by Nairametrics have predicted higher rates compared to the previous month.
The number of food insecure people in West and Central Africa- Nigeria included increased by 400% in the last five years to reach 55 million for the June to August lean season
The chairman of the Dangote Group, Alhaji Aliko Dangote, has said that the significant cut in diesel prices to N1,200 will soon result in lower inflation rates.
The World bank has estimated that Nigeria’s inflation rate would drop to around 24.8% this year and further slide to 15.1% by 2026.
It was learnt last week that the drivers of the new power tariffs in Nigeria are the exchange rate of the Naira to the US dollar and inflation.
KPMG has said that the effectiveness of the Central Bank of Nigeria's (CBN) monetary tightening strategies may fall short unless Nigeria addresses the underlying supply-side constraints fuelling cost-push inflation.
President Bola Tinubu has assured Nigerians that his administration will tackle the high inflation rates with the same determination used to address the foreign exchange crisis in the country.
M3 jumped by 18.21% in January 2024, when compared to December 2023, to N93.72 trillion, an alarming 76% compared to January 2023. How could the government deny that it was printing money, just like the ways and means excesses it had criticised the Buhari administration for.
The Nigeria’s Purchasing Managers’ Index (OMI) remained unchanged at 51.0 for the month of March, indicating no change from previous figures.