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Inflation Rate Hits 20.5% In August 2022
Nigeria’s inflation rate has risen by 0.92 basis points to 20.52 percent in August 2022, from 19.6 percent in July. This is the highest record since October 2005 and it represents the seventh consecutive monthly rise in Headline inflation since February. Also, Food inflation rose to 23.12 percent in August 2022, representing a 1.1 percentage-point…
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Nigeria’s Inflation Rate Increases To 15.7% In February
The Consumer Price Index rose to 15.7 per cent in February from 15.6 percent in January 2022. This is according to the latest figures from the National Bureau of Statistics. The NBS disclosed this in its ‘Consumer Price Index February 2022’ report. According to the NBS, the highest increases were recorded in prices of gas,…
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January Index: Inflation Crossed Average Five Times In 11yrs
An analysis by Twentyten Daily has shown that at the beginning of every year, between 2012 and 2022, Nigeria’s Inflation rate crossed an average of 12.43 percent five times. According to data collected from the National Bureau of Statistics report on Consumer Perception Index, that measures the monthly rate of inflation, in January for the…
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IMF Forecasts 2.7% Growth Rate For Nigeria In 2022
The International Monetary Fund in its January World Economic Outlook has predicted a growth rate of 2.7 percent for Nigeria in 2022. The institution made the forecast in the summit titled “Rising Caseloads, a Disrupted Recovery, and Higher Inflation” released in Washington. The growth projection is 0.1 percent higher than the 2.6 percent IMF’s forecast…
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Inflation Rate Rises To 15.63% After Eight Month Decline
Nigeria’s inflation rate has risen to 15.36 percent in December 2021, from 15.50 percent recorded in November 2021 after eight months of consistent decline. The Statistician-General of the Federation, Simon Harry, disclosed this during a press briefing at the National Bureau of Statistics, Abuja. Recall that data from the NBS had shown that headline inflation…
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Nigeria’s inflation falls to 16.63%, lowest in eight months
According to the National Bureau of Statistics, the inflation rate in Nigeria declined for the sixth consecutive month to 16.63 percent in September. Its lowest level since January this year. In its Consumer Price Index, NBS said the inflation rate fell by 0.38 percent from 17.01 per cent in August. The drop in headline inflation…
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Nigeria’s Inflation Rate Drops To 17.75%
Nigeria’s inflation rate has fallen by a slight 0.18 percent from 17.93 percent in May to 17.75 percent in June. This is according to the latest data by the National Bureau of Statistics in its Consumer Price Index report for June. Part of the report read, “The consumer price index which measures inflation (rate of…
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Nigeria’s Inflation Rate Drops
Nigeria’s inflation rate has dropped to 17.93 percent in May from 18.12% in April 2021. This is according to the ‘Consumer Price Index Report’, released by the National Bureau of Statistics. On a month-on-month basis, the headline index increased by 1.01 percent in May 2021. This is 0.04 percentage points higher than the rate recorded…