The Central Bank of Nigeria (CBN) has once again deferred the meeting of its monetary policy committee, despite the ongoing rise in inflation. The meeting, initially scheduled for Monday and […]
Tag: inflation
IMF highlights lower inflation and stable exchange rates
The Resident Representative of the International Monetary Fund (IMF) for Nigeria, Ari Aisen, has emphasized that lower inflation rates and a more predictable exchange rate are key factors that can […]
Nigeria’s economy under threat as inflation soars to 25.80%
Nigeria is grappling with a severe economic shock as its inflation rate surged to 25.80% in August, marking the highest level since August 2005, according to data from the National […]
Nigeria’s inflation hits 25.80% in August
According to the Consumer Price Index report for August 2023, released by the National Bureau of Statistics on Friday, Nigeria’s inflation has surged to 25.80%, marking a significant increase of […]
Oyo representative denies inflating road project contract cost from N9bn to N54bn
Hon. Tolulope Akande-Sadipe, the House of Representatives member representing Oluyole Federal Constituency in Oyo State, has refuted claims of inflating the contract sum for a road rehabilitation project within her […]
Economists concerned about high production costs as inflation reaches 22.79%
The latest data released by the National Bureau of Statistics reveals that Nigeria’s headline inflation rate has increased for the sixth consecutive time, reaching 22.79% in June 2023. This marks […]
Egypt inflation surges to record high of 36.8% in June
Annual inflation in Egypt reached a historic high of 36.8% in June, according to official data released on Monday. This alarming figure underscores the severe economic crisis the country is […]
Bank of America warns of potential 30% inflation in Nigeria
According to Bank of America’s sub-Saharan Africa Economist, Tatonga Rusike, the Central Bank’s Monetary Policy Committee may need to increase interest rates by at least 700 basis points before the […]
Bank of England set to raise interest rates in response to inflation
The Bank of England (BoE) is anticipated to increase interest rates for the 13th consecutive time on Thursday, potentially opting for a significant hike to combat persistent inflation, despite the […]
Soaring food and beverage prices drive May inflation to 22.41% – NBS
The National Bureau of Statistics (NBS) has announced that inflation reached a new record high of 22.41% in May due to the soaring costs of food and non-alcoholic beverages. This […]
Nigeria’s inflation rate climbs to 22.22% in April 2023, marking fourth consecutive increase
The latest report from the National Bureau of Statistics (NBS) reveals that Nigeria’s consumer price index (CPI) rose to 22.22% in April 2023, marking the fourth consecutive increase in the […]
Food costs in Nigeria drive inflation up to 22.04% – NBS
The National Bureau of Statistics has reported that Nigeria’s inflation rate surged to 22.04% in March, continuing a three-month trend of increase following a brief decline in December 2022. The […]