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NIGERIA'S INFLATION RATE
The increase can be attributed to increase in cost of importation due to the persistent currency depreciation
This is a summary of the major economic news stories during the week that ended on November 19
The highest increases in the core basket were recorded in prices of gas, liquid fuel, passenger transport by air, solid fuel, and vehicles spare parts
The unaudited financial results showed significant improvements across key performance indicators
UBA grew its profit in the third quarter of the year by 10.95% to N116 billion from N104.5 billion in Q3 2021
On a month-on-month basis, the index rose by 1.36% compared to the 1.77% in August.
The problem with inflation getting to high is that it erodes income, reduces value of naira.
Nigeria’s inflation rate has increased from 11.98% recorded in December 2019 to 12.13% in January 2020.
Nigeria’s inflation rate rose year on year to 11.98% in December 2019. According to the NBS, the rise in the food index was caused by increases in prices of Bread and cereals, Oils and fats, Meat, Potatoes, Yam and other tubers, Fish and Vegetables
Nigeria's Inflation increased 0.12% from the previous rate of 11.25% YoY, being the first increase after three consecutive declines in inflation rate for 2019.
The most important presidential election in Africa in 2019 is finally about to happen. And as expected, many people are agitated.