Tags : Inflation

How Increasing Cost Of Fertilizer Is Affecting Food Security In

The Russian invasion is having far-reaching repercussions on many countries around the world, including in Africa, where it is majorly affecting food security. From shortages in wheat supply to shortages in crop fertilizers caused by sanctions on Russia, Africa suffers the shockwaves of the European war despite being geographically removed from the conflict. According to […]Read More

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 […]Read More

Economy: Here Is Why South Africa Is Extending Fuel Levy

The South African government is considering an extension on the reduction in the general fuel levy until early August to ease pressure on consumers from high domestic fuel prices linked to the Russia-Ukraine conflict. In March, the government announced a temporary reduction in the fuel levy of 1.5 rands ($0.09) per litre for two months […]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

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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

Nigeria’s Inflation Rate Drops To 15.60% In January

The consumer price index, which measures inflation, dropped to 15.60 percent year-on-year in January 2022.  This is 0.87 percent points lower than the rate recorded in the corresponding month in 2021 (16.47) percent and 0.03 percent recorded in December 2021. The National Bureau of Statistics which disclosed this in its Consumer Price Index report for […]Read More

IMF Cuts Global Economic Growth Forecast To 4.4%

The International Monetary Fund on Tuesday warned that the global economy might not grow at the pace it was previously predicted due to slow recoveries in the United States and China. IMF’s latest World Economic Outlook shows a downshift in global economic growth from 5.9% in 2021 to 4.4% this year as opposed to what […]Read More

Inflation Increases By 15.40% In November 2021

The consumer price index, which measures inflation, increased by 15.40 percent  in November 2021. This is 0.51 percent points higher than the rate recorded in November 2020 (14.89) percent.   On a month-on-month basis, the index increased by 1.08 percent in November 2021, this is 0.10 percent higher than the rate recorded in October 2021 (0.98) […]Read More

Inflation Rate Falls To 15.99 In October 2021

The National Bureau of Statistics (NBS) has reported that Nigeria’s inflation rate fell to 15.99 in October from the highest record of 18.17 in March 2021. The report said the Consumer Price Index (CPI), which measures inflation, saw an increase of 1.76 percent when compared to the record in October 2020 (14.23 percent). However it […]Read More