The average prices of goods rose the highest year-on-year in Ondo, Kogi, and Rivers states, according to the National Bureau of Statistics.
This is as inflation in the country rose to 22.41 per cent in May, the NBS disclosed. In the ‘Consumer Price Index’ for May 2023, inflation for the three states was higher than the national average.
The average prices of goods rose the highest year-on-year…
Nigeria’s inflation soared to 21.82 per cent in January 2023, according to the National Bureau of Statistics.
This is amid a redesign of the naira by the Central Bank of Nigeria. January’s inflation rate is a 0.48 per cent point increase from the 21.34 per cent that…
Economists say limited demand for currency swaps and other central bank policies could lower inflation in January.
They note that changes in the structure of the currency and the cashless policy pursued by leading banks may not have a long-term effect in curbing inflation in…
Economists have advised Nigerians to brace for higher inflation in the coming months.
They said that political spending as preparations for the 2023 general elections heightens, worsening exchange rate and other factors would keep inflation high.
As the country prepares for the 2023 general elections, they predicted that political spending worsening exchange rate and other factors would keep…
Central Bank of Nigeria (CBN) backtracks, takes radical stance against rising inflation
May 30, 2022
The rate-fixing arm of the Central Bank of Nigeria (CBN) backtracked on its position on the country’s rising inflation, yesterday, increasing the monetary policy rate by 1.5 per cent or 150 basis points (bps), an extreme radical stance against rising prices.
A 150bps…