Tags : Inflation Rate

Nigeria’s Inflation Hit 21.09% In October

According to the National Bureau of Statistics, Nigeria’s inflation rate has risen to a new record high of 21.09 per cent in October 2022. The increase is not unconnected to the price of fuel, scarcity of foreign exchange, and disruption in the food supply chain. This is 0.32 per cent higher than the 20.77 per […]Read More

2023: Nigeria’s Economic Growth Will Slow To 3%

THE International Monetary Fund has projected that Nigeria’s economic growth will slow  to 3.0 percent  in 2023. It added that the  inflation rate will drop to 17 per cent. IMF also forecasted for global economy growth in 2022 at 3.2 percent, and however lowered its forecast for 2023 to 2.7 per cent, representing  0.2 percentage […]Read More

Nigeria’s Inflation Hits 20.77% In September

According to the National Bureau of Statistics, Nigeria’s Inflation hit a new high of 20.77 percent in September as food supply, foreign exchange crisis, and increases in import costs worsened. In August, inflation rose to a 17 year high of 20.52 per cent which has now been broken by September’s figure. NBS disclosed this in […]Read More

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Inflation: Nigeria Has Surpassed 16.0% Rate 25 Times In 88

The National Bureau of Statistics has published that the consumer price index for April 2022 increased to 16.82 percent  on a year-on-year basis. The recent figures are 1.3 percent points lower compared to the rate recorded in April 2021 (18.12) percent but 0.9 percent higher than March 2022.  According to… You must be registered to […]Read More

Nigeria’s Inflation hits 16.82% In April 2022

Latest figures from the National Bureau of Statistics have revealed that the Consumer Price Index rose to 16.82 percent in April from 15.92 percent in March. The NBS disclosed this in its ‘Consumer Price Index April 2022’. The report read in part, “In April 2022, the consumer price index, which measures inflation increased to 16.82 […]Read More

Nigerians’ Household Consumption Spending Rises To N108tn

The National Bureau of Statistics has said that Nigerian residents spent N108.47 trillion on household consumption in 2021 in nominal terms. The figure is 11 percent  higher than the N97.72tn recorded in 2020. This is an  increase amid double-digit inflation of 15.92 recorded in march 2022. The NBS, which disclosed this in its recent Expenditure […]Read More

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Reviewing Nigeria’s 2021 GDP Growth (1)

The National Bureau of Statistics has reported that the country’s Gross Domestic Product increased by 4.03 percent in the third quarter of 2021. This is contained in its Gross Domestic Product Report Expenditure and Income Approach report for Q3, Q4 2021. According to the report, in the third quarter of… You must be registered to […]Read More

Inflation Pushes 23 million Nigerians Into Food Crisis 

About 23 million Nigerians were pushed into a food crisis due to the impact of the COVID-19 pandemic-induced inflation in 2021. The World bank said this in its latest Commodity Markets Outlook report in reference to the Global Report on Food Crises. According to the Washington-based, rising food prices have heightened food insecurity in emerging […]Read More

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Comparing Q1 Inflation Rate Across Five Years

According to the latest figures from the National Bureau of Statistics, Nigeria’s Consumer Price Index rose to 15.92 percent in March 2022. This new figure was the highest the country has recorded since November 2021. In the first quarter of the year,  Nigeria’s inflation rate grew from 15.60 percent in… You must be registered to […]Read More

Inflation Hits 15.92% In March 2022

Latest figures from the National Bureau of Statistics showed that Nigeria’s Consumer Price Index rose to 15.92 percent in March 2022. This new rate is the highest the country has recorded since November 2021 with an inflation rate of 15.99 percent. The NBS in its “CPI report for March 2022” revealed that Nigeria’s inflation fell […]Read More