It is the first fall in Nigeria’s inflation rate in the last 21 months. Data published Monthly by National Bureau of Statistics. The rate of inflation in Nigeria dropped slightly in April 2021, shedding 0.05 per cent to close at 18.12 per cent in the month under review, the National Bureau of Statistics said on Monday. News; Reports ... the commission stated it measured the 14.9 per cent inflation rate rise in … Consumer prices rose 0.97% month-on-month in April, down from March’s 1.56% increase. Thread starter AgentOrange; Start date Apr 15, 2021; AgentOrange Active member. A reduction compared 17.6% recorded in the previous month. Nigerian Lawmakers Slam Naira Devaluation, Warn of Inflation Implications – Economics Bitcoin News June 10, 2021 June 10, 2021 admin Nigeria’s House of Representatives has moved a motion calling on the country’s central bank to end the continuing devaluation of the naira. In Nigeria, the Consumer Price Index (CPI) measures the change over time in prices of 740 goods and services consumed by people for day-to-day living. The index weights are based on expenditures of both urban and rural households in the 36 states. This represents a 0.05% point decline when compared to 18.17% recorded in March 2021. Inflation (CPI): 11.4%. Nigeria’s inflation rate stood at 18.12% in April 2021, indicating a drop compared to 18.17% recorded in March 2021. The inflation rate for consumer prices in Nigeria moved over the past 40 years between 5.4% and 72.8%. Nigeria: Inflation inches down in April. Published: March 16, 2021 7:56 PM. Food inflation dropped to 22.72% from a nearly 16-year peak of 22.95% in the prior month. Nigeria inflation rate for 2018 was 12.09%, a 4.43% decline from 2017. The latest rate is contained in the NBS’s Consumer Price Index (CPI) report for April 2021 released on Monday in Abuja. Similarly, the urban inflation rate increased to 18.76 per cent (year-on-year) in March 2021 from 17.92 per cent recorded in February. Nigerian Inflation rate maintains upward trend, hits 18.17% in March. This is 0.05% points lower than the rate recorded in March 2021 (18.17%). Nigeria’s inflation rate has climbed to a 34-month high, rising to 17.33% in February from 16.47% in January 2021, the latest figures published by … Section 12 Sub-sections (1) to (5), CBN Act of 2007 (Ammended) The urban inflation rate also increased in December by 16.33 percent (year-on-year) in December 2020 from 15.47 percent recorded in November 2020, while the rural inflation rate … This is according to the Consumer Price Index report, released by the country’s National Bureau of Statistics (NBS). reverse to double digits until late 2021 or later. Inflation Rate in Nigeria increased by 18.17 % in March 2021 over the same month in the previous year. Nigeria recorded its first decline in inflation rate in 20 months, a report by the NBS revealed on May 17, 2021. Before the naira’s devaluation in May 2021, Emefiele had repeatedly defended the country’s overvalued exchange rate. All the signs indicate that major intervention will be needed to bring inflation into retreat. On a month-on-month basis, the headline index increased by 1.56 per cent in March 2021. FDI Inflow: $3.3 billion. POVERTY, inflation and debt may increase in Nigeria this year due to COVID-19 resurgence and poor economic fundamentals, according to the 2021 Economic Outlook recently published by the Lagos Chamber of Commerce and Industry (LCCI). For 2019, an inflation rate of 11.4% was calculated. A member of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) Adeola Adenikinju, says Nigeria’s inflation rate is projected to remain above 17.9% in 2021. Nigeria’s House of Representatives has moved a motion calling on the country’s central bank to end the continuing devaluation of the naira. It’s the highest it’s climbed since January 2017, when it stood at 18.72%. Nigeria Inflation Rate Eases to 11-Month Low. Nigeria's consumer price inflation fell to 11.22 percent year-on-year in June 2019 from 11.40 percent in the previous month. That was the lowest inflation rate since July 2018. Nigerian inflation accelerated for the 10th straight month in June as restrictions on access to foreign exchange and continued border closures drove … Latest report by the National Bureau of Statistics (NBS) indicates that Nigeria’s inflation rate stood at 18.12% in April 2021, indicating the first decline in headline inflation in about 20 months. Inflation Rate Hits 18.71%- Highest Recorded In four years. Nigeria hits 18.17% inflation rate in March 2021 – NBS reports by Christina Ngene April 15, 2021 Nigeria hit an inflation rate of 18.17% (year-on-year) in March 2021 according to the consumer price index, (CPI) which measures the index. 4 of 1997,No. However, in the absence of foreign demand, we see a short-term bear market from Q2 to Q3-2021. - The Nigerian Bureau of Statistics (NBS) releases a new report indicating that inflation rate stood at 11.98% in December 2019. There were enough reasons for the central bank to avoid acting on inflation, which will hold true for the rest of 2021. Read more INSIGHT Export Chart In his unanimously adopted motion, House Representative Bamidele Salam warned the Central Bank of Data. Published by Aaron O'Neill, May 18, 2021 Nigeria’s inflation has been higher than the average for African and Sub-Saharan countries for years now, and even exceeded 16 percent in … By Adejayan Gbenga Gsong On Mar 23, 2021. This represents the highest inflation rate recorded in four years. Core consumer prices in Nigeria increased 12.67 percent in March of 2021 over the same month in the previous year. This is according to the … The National Bureau of Statistics, NBS says Nigeria’s inflation rate dropped to 18.12% in April from 18.27% in March. FocusEconomics Consensus Forecast panelists expect inflation to average 13.9% in 2021, which is up 0.2 percentage points from last month’s forecast. Share this on WhatsApp. NIGERIA’S January (2021) inflation rate peaked at 16.47 percent, from 15.75 percent reported in December 2020, data on the Consumer Price Index (CPI) released by the National Bureau of Statistics (NBS) on Tuesday shows. This represents a 0.05%-point decline when compared to 18.17% recorded in March 2021. During the observation period from 1979 to 2019, the average inflation rate was 19.2% per year. This represents a 0.05 per cent (or 5 basis points) decrease compared to the 18.17 per cent inflation rate recorded in March. The Nigerian naira dropped to a new record low of NGN 419.8 per USD on the official market on 14 May, following a currency devaluation. Nigeria’s headline inflation has dropped for the first time in 20 consecutive months, recording 18.12 per cent decrease in April year-on-year from 18.17 per cent reported in March. It was the highest inflation rate since April of 2017, as food inflation hit an over 12-year high of 20.57% due to pandemic disruptions and dollar shortages as well as lingering restrictions on imports of certain food items despite…. ... - Nigeria's annual inflation rate rose to a four-year high of 17.33% in February after its 18th straight monthly increase, ... 2021. Nigerian Inflation Rate Hits 11.6%, Highest ever. Friday, June 11, 2021. CBN has been idle on inflation Core inflation increased from 12.38% to 12.67%; while food inflation increased to 22.95% from 21.79%. The inflation rate in Nigeria has risen to 18.17% for the month of March 2021 from 17.33% recorded the previous year. Read more. 37 of 1998,No. The inflation rate is the measurement of changes in prices of commodities in place within a particular period, especially within a year. This is from 17.33% recorded in February 2021. Central Bank of Nigeria keeps its policy rate at 11.5%. The NBS noted that the urban inflation rate increased by 13.18 per cent year on year in June from 13.03 per cent recorded in May 2020 while the rural inflation rate increased by 11.99 per cent in June 2020 from 11.83 per cent in May 2020. This is according to the latest inflation report published by the National Bureau of … Nigeria inflation rate for 2016 was 15.68%, … Nigeria’s February inflation rate hits 17.33% – The National Bureau of Statistics (NBS) yesterday said the inflation rate rose from 16.46 per cent in January to 17.33 per cent in February 2021. BREAKING: Nigeria’s inflation rate drops to 18.12% in April 2021 Nigeria’s inflation rate stood at 18.12% in April 2021, indicating a drop compared to 18.17% recorded in March 2021. Nigeria inflation rate for 2017 was 16.52%, a 0.85% increase from 2016. Historical Data (%) by years. FocusEconomics panelists see GDP growing 2.5% in 2020, which is unchanged from last month’s estimate, and 2.7% in 2021. 5 years of Nigeria economic forecasts for more than 30 economic indicators. The Nigerian inflation rate accelerated to 12.26 per cent in March, which is the higher 23 months; the latest data released by the National Bureau of Statistics (NBS) on Tuesday has shown. Our view is this will come mainly from the government in 2021. The legal backing for monetary policy by the Bank derives from the various statutes of the bank such as the CBN Act of 1958 as amended in CBN Decree No. Search . Nigeria’s annual inflation rate climbed for a 17th straight month to 16.47% in January of 2021. May 18, 2021. Food inflation. Editor Author; More in Economy: Food blockade: Ohanaeze Ndigbo say there are conspiracies against the South-Eastern region by ’those who want to destabilise the region’ 2021/06/03; Northern onion sellers suspend shipments to the southeast 2021/06/03; The latest figures were contained in the Consumer Price Index report, recently released by the National Bureau of Statistics (NBS). Nosa Alekhuogie Inflation rate (year-on-year) is expected to drop to 11.50 per cent in May 2018, lower than the 12.48 per cent recorded the previous... Nigeria FX … Read more. The rate in February was sharply up from 16.4% in January and has been on a broad uptrend since late 2019. Nigeria unemployment rate for 2019 was 8.10%, a 0.15% decline from 2018. 38 of 1998,1999 and CBN Act of 2007. Values from the Consumer Price Index report for January 2021 supplied by the National Bureau of Statistics, NBS shows an inflation rate of 16.47% (year-on-year) in Nigeria. Nigeria’s inflation rate has dropped. The bank is due to hold its interest rate setting meeting later this month with economic data on inflation and first quarter growth figures expected from next week. Its Consumer Price Index February 2021, said: “The consumer price index (CPI), which measures inflation increased by 17.33 per cent (year-on-year) in February 2021.” Accordingly, our prognosis for the Nigerian stock market in 2021 is that domestic interest, fueled by dividend expectations, is likely to sustain the market rally in Q1-2021. Nigeria inflation rate for 2019 was 11.40%, a 0.7% decline from 2018. Apr 15, 2021 #1 I think a very dangerous development in the most populated country on the African continent. Nigeria Inflation Rate (Monthly) Nigeria's Consumer Price Index (CPI) which measures inflation, increased by 18.17% (year-on-year) in March 2021. The maximum level was 47.56 % and minimum was -2.49 %. Nigeria’s House of Representatives has actually moved a movement contacting the nation’s reserve bank to end the continuing devaluation This is 0.82% points higher than the rate recorded in February 2021 (17.33%). This is 0.82 percent points higher than the rate recorded in February 2021 (17.33 percent). “This is 0.05 per cent points lower than the rate recorded in March 2021 (18.17 per cent).” The 0.05 per cent drop in April 2021 was the first time Nigeria’s inflation rate would fall in about 20 months as the last time it fell was in 2019 when the CPI shed 0.06 per cent, falling from 11.08 per cent in July to 11.02 in August. The Nigerian Electricity Regulatory Commission authorised ... 2021. First quarter 2021 The Nigerian economy recorded a paltry 0.5% GDP growth while population was growing at 3.5%, Inflation rate eased to 18.12% in April down slightly from a four-year high of 18.17% in March. The NBS also stated that food inflation increased by 1.16 per cent on a year-on-year basis from 21.79 per cent in February to 22.95 per cent. In the year 2020, Nigeria experienced one of the worst recessions in several decades - its second recession in a space of 5 years. May 19, 2021. On a month-on-month basis, the urban index rose by 1.65 percent in December 2020, same as the rate recorded in November 2020, while the rural index also rose by 1.58 percent in December 2020, up by 0.02 percent above the rate that was recorded in November 2020 (1.56 percent). The last time inflation dropped in Nigeria was in August 2019 when it fell from 11.08 per cent to 11.02 per cent.. Unemployment refers to the share of the labor force that is without work but available for and seeking employment. Headline Inflation Rate Increases by 18.17% YoY In March 2021, 0.82% Higher Than February 2021 Rate. The March 2021 inflation rate remains the highest in four years. The timing of an interest rate increase will be a function of money supply growth, federal government’s overdraft, galloping inflation and exchange rate pressures,” he said. The Central Bank of Nigeria has retained the policy rate at 11.5 per cent despite the country’s three-year high inflation, a decision it said sought to ensure a balance between the need for price stability and growth. This is contained in the Consumer Price Index report, recently released by the National Bureau of Statistics (NBS). Moreover, core consumer prices, which exclude volatile agricultural produce, rose 1.0% month-on-month in April (March: 1.1%), while core inflation stable t March’s 12.7% in April. We know that Nigerians pay more for fewer goods and services. Nigerian Lawmakers Slam Naira Devaluation, Warn of Inflation Implications – Economics Bitcoin News June 10, 2021 Nigeria’s House of Representatives has moved a movement calling on the nation’s central financial institution to finish the persevering with devaluation of the naira. Nigeria is at a critical point in its 60-year history. The latest data by the NBS defy several predictions by economists, projecting a steady increase in inflation. JUST IN: Nigeria’s inflation rate drops to 18.12% – NBS NEWS DIGEST – Nigeria’s rate of inflation dropped to 18.12 percent in April 2021, the National Bureau of Statistics, NBS, said on Monday. Overall, the price increase was 80,304.39 %. Nigeria’s economic freedom score is 58.7, making its economy the 105th freest in the 2021 Index. On a month-on-month On a month-on-month basis, inflation dropped by 0.59% point compared to 1.56% recorded in March 2021 to stand at 0.97%. It was 18.17 per cent in March, shedding 0.05 per cent to close at 18.12 in April. What we know so far is that Nigeria’s inflation rate is at 18.17% in March from 17.33% in February 2021. Nigeria’s inflation rate stood at 18.12% in April 2021, indicating the first decline in headline inflation in about 20 months. The number exceeds the December 2020 inflation rate of 15.75% by 0.71% points, the report explains. The rural inflation rate, on the other hand, now stood at 17.60 per cent in March 2021 from the 16.77 per cent reported last month. This indicates 0.82% points higher than the February figures. Year-on-year inflation rate in Nigeria 2021, by area. 24 of 1991, CBN Decree Amendments 1993,No. March 2021 Inflation Rate Rises To 18.17% As Food Inflation Jumps To 22.95% by rodeo0070 ( m ): 9:28am On Apr 15. 8.1%. The latest report by the National Bureau of Statistics (NBS) has shown that the consumer price index (CPI), which measures inflation, increased by 18.17 percent (year-on-year) in March 2021. by Editor on 2019/11/18. The inflation rate in Nigeria has increased to 18.17% in the month of March. May 21, 2021. This is according to the Consumer Price Index report, recently released by … Nigeria’s headline inflation, according to the National Bureau of Statistics (NBS‘) latest report, dropped for the first time in 20 consecutive months.Techeconomy.ng can report that it has a record of 18.12 per cent decrease in April year-on-year from 18.17 per cent reported in March.. Nigeria’s inflation climbs to 11.98%, highest rate in 19 months. The increasing demand for cash by members of the public to meet the rising prices of goods and services has caused money supply in the economy to jump by 22.5 per cent Year-on-Year (YoY) to N38 trillion in the first quarter of the year (Q1’21). Nigeria’s headline inflation has dropped for the first time in 20 consecutive months, recording 18.12 per cent decrease in April year-on-year from 18.17 per cent reported in March. In January 2021, the inflation in urban areas of Nigeria grew by 17 percent compared to January 2020. The urban inflation rate also increased in December by 16.33 percent (year-on-year) in December 2020 from 15.47 percent recorded in November 2020, while the rural inflation rate … According to him, in spite of the five-basis points moderation in consumer prices, inflation rate remained high, as it doubled the Central Bank of Nigeria’s upper target range of nine per cent. Nigeria's Consumer Price Index (CPI) which measures inflation, increased by 18.12% (year-on-year) in April 2021. Inflation: Money Supply Rises By 22.5% To N38trn . Core Inflation Rate in Nigeria averaged 10.27 percent from 2007 until 2021, reaching an all time high of 19.28 percent in January of 2007 and a record low of 0.49 percent in March of 2008. This is contained in the Consumer Price Index report. Yusuf said that food inflation at over 22 per cent was still very high, in spite of the marginal moderation in food prices in April 2021. The consumer price index, (CPI) which measures inflation increased by 18.17 percent (year-on-year) in March 2021. Unemployment and under-employment still over 50%, with monetary policy rates unchanged at 11.5%. Core inflation increased from 12.67% to 12.74%; while food inflation dropped to 22.72% from 22.95%. Bread. Nigeria’s inflation rate rose to 17.33 per cent in February 2021, from 16.47 per cent in January. Cart / $ 0.00 No products in the cart. The consumer price index measures the rate of increase in the price of goods and services in the country. Nigeria’s rate of inflation dropped to 18.12 percent in April 2021, the National Bureau of Statistics (NBS) said on Monday It was 18.17 per cent in March, shedding 0.05 … Nigeria unemployment rate for 2018 was 8.24%, a … According to the consumer price index report released by the National Bureau of Statistics (NBS) on Monday May 17, 2021, the inflation rate recorded a slight drop in the month ending April 2021, shedding 0.05 per cent to close at 18.12 per cent in the month under review. Four Priorities for the Nigerian Economy in 2021 and Beyond. The National Bureau of Statistics (NBS) says that Nigeria’s inflation rate has continued its rise with the inflation rate for the month of March this year put at 18.17 percent.The NBS said in its monthly report. Nigerian inflation hits 4-year high in February. This is 0.05 percent points lower than the rate recorded in March 2021 (18.17) percent. 16 Mar 2021 Nigerian inflation hit a four-year peak in February as food prices jumped more than 20 percent, heaping financial pressure on households already faced with a … Nigeria’s inflation has continued to rise as the Consumer Price Index which measures the rate of increase in the price of goods and services, increased to 18.17% in March from 17.33 in February. Nigeria's annual inflation rate eased to 18.12% in April of 2021, the first decline since August 2019, down slightly from a four-year high of 18.17% in March. -. Nigeria’s inflation rate rises to 18.17% (March, 2021)- NBS. Nigerian Lawmakers Slam Naira Devaluation, Warn of Inflation Implications June 10, 2021 clublaura_e7xtqv Nigeria’s House of Representatives has moved a motion calling on the country’s central bank to end the continuing devaluation of the naira. Nigeria’s inflation rate rose to 17.33% in February 2021, from 16.47% recorded in the previous month. The National Bureau of Statistics (NBS) on Monday released its latest consumer price index (CPI), which shows that Nigeria’s inflation decelerated to 18.12 per cent year-on-year in April 2021. Nigeria’s rate of inflation was 18.17 per cent in the preceding month of March. This is 0.82 percent points higher than the rate recorded in February 2021 (17.33 percent). Specifically, the inflation rate for the month of March 2021, rose to 18.17% from 17.33% recorded in February 2021, representing 0.82% points higher … ... Inflation | May 19th 2021 Nigerian inflation steadies in April, after months of rises. The National Bureau of Statistics (NBS) announced on Thursday that Nigeria’s inflation rate has reached a new high of 18.17 percent, eliciting mixed reactions from people. Headline Inflation declines by 18.12{{ YoY In April 2021, 0.05}} Lower Than March 2021 Rate The consumer price index, (CPI) which measures the inflation rate dropped to 18.12 percent in April from 18.17 in March. The urban inflation rate also declined from 18.76% recorded in March 2021 to 16.68%, while the rural inflation rate stood at 17.57%. Nigeria Unemployment Rate 1991-2021. Yinka Akanbi. Published on 15.04.2021 at 16h21 by APA News. Nigeria recorded its first decline in inflation rate in 20 months, a report by the NBS revealed on May 17, 2021. - The latest data from NBS shows that the December 2019 inflation rate is 0.13% points higher than the 11.85% recorded in November. Nigeria’s Inflation Rate Now 18.71% as Food Index Hits 22.95%. Nigerian Inflation Rate Rises to Two-Year High on Food Prices Tope Alake , Bloomberg News A customer hands a vendor a 500 Nigerian naira banknote for fresh produce on a stall at Utako Ultra Modern market in Abuja, Nigeria, on Wednesday, June 3, 2020. 3 of 1997,No. April 28, 2021. Holding … The consumer price index, (CPI) which measures the inflation rate increased by 18.17 percent (year-on-year) in March 2021. This is 0.82% points higher than the rate recorded in February 2021 (17.33%).
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