The National Bureau of Statistics, NBS, on Monday, announced that Nigeria’s headline inflation rate has dropped to 22.97 percent. NBS said the May 2025 headline inflation rate decreased 0.74 per cent compared to the April headline inflation rate. According to … Continue reading Nigeria’s inflation drops to 22.97%
AGS NEWS – Nigeria’s inflation rate is expected to decline to 27.1% by the end of 2025, according to the NESG-Stanbic IBTC Business Confidence Monitor report. The projection suggests that ongoing structural reforms are beginning to yield results despite lingering … Continue reading Inflation may drop to 27% by December – Report
AGS NEWS – In June, Nigeria’s inflation rate soared to 34.19%, the highest in 28 years, exacerbating economic difficulties for many citizens. The situation was further aggravated by a 40.87% rise in food inflation, primarily due to insecurity in agricultural … Continue reading Nigerians turn to local foods amid soaring inflation
AGS NEWS – Nigerians are struggling to afford food as food inflation surged to 40.66% in May. This marks a sharp increase from 25.25% in June 2023, highlighting a steady rise in the cost of living. The National Bureau of … Continue reading Food inflation soars by 61% in one year
AGS NEWS – Economists are urging the government to address key challenges such as high energy costs, insecurity, and foreign exchange volatility to combat the rising inflation in the country. This comes as Nigeria’s inflation rate surged to 31.70% in … Continue reading Inflation hits 31.7%: Government urged to address insecurity
The President of the Lagos Chamber of Commerce and Industry, Gabriel Idahosa, anticipates a deceleration in the country’s inflation rate in 2024. In an exclusive interview on Friday, Idahosa attributed the recent acceleration of inflation to the removal of fuel … Continue reading LCCI forecasts decrease in inflation rate for 2024
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 Tuesday, marks the second postponement since Olayemi Cardoso assumed the … Continue reading CBN delays MPC meeting again amid soaring inflation
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 attract increased investments into the country. During his appearance on … Continue reading IMF highlights lower inflation and stable exchange rates
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 Bureau of Statistics. This inflationary trend has been steadily climbing … Continue reading Nigeria’s economy under threat as inflation soars to 25.80%
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 1.72% points compared to the previous month’s figure of 24.08%. … Continue reading Nigeria’s inflation hits 25.80% in August
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 constituency. This comes in response to media reports alleging her … Continue reading Oyo representative denies inflating road project contract cost from N9bn to N54bn
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 a new 17-year high, surpassing the previous month’s rate of … Continue reading Economists concerned about high production costs as inflation reaches 22.79%
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 currently facing. The previous record of 34.2% in July 2017 … Continue reading Egypt inflation surges to record high of 36.8% in June
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 year ends in order to address the escalating inflation in … Continue reading Bank of America warns of potential 30% inflation in Nigeria
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 risk of exacerbating the cost-of-living crisis. Previous expectations suggested a … Continue reading Bank of England set to raise interest rates in response to inflation
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 figure represents a 0.19% increase from April, when inflation had … Continue reading Soaring food and beverage prices drive May inflation to 22.41% – NBS
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 country’s inflation rate this year. Compared to the previous month, … Continue reading Nigeria’s inflation rate climbs to 22.22% in April 2023, marking fourth consecutive increase
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 leading contributor to this rise was food and non-alcoholic beverages, … Continue reading Food costs in Nigeria drive inflation up to 22.04% – NBS
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