Tuesday, September 18, 2018

Tag "Inflation"

    Nigeria’s inflation rises for the first time after 18-month decline

Nigeria’s inflation rises for the first time after 18-month decline

Nigeria's inflation has risen for the first since it started its decline in January 2017.This is according to the latest inflation report published by the National Bureau of Statistics on Friday.According to the report, the rate at which prices of goods and services increased in August rose to 11.23% from 11.14%."The consumer price index, (CPI) which measures inflation increased by [...]

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    Inflation now 1.28% points lower than FG’s 2018 projection

Inflation now 1.28% points lower than FG’s 2018 projection

Data made available by the National Bureau of Statistics (NBS) show that year-on-year inflation dropped to 11.14% in July; 1.28% points beneath the federal government's projection.In the 2018-2020 Medium Expenditure Framework and Fiscal Strategy paper, the federal government had projected that inflation would moderate at 12.42%.According to the bureau, the figure is 0.09% points less than the 11.23% recorded in [...]

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    CBN ‘may increase’ monetary policy rate if inflation persists

CBN ‘may increase’ monetary policy rate if inflation persists

The Central Bank of Nigeria (CBN) may increase monetary policy rate (MPR) if inflationary pressures do not abate, Joseph Nnanna, deputy governor of the apex bank, has told Bloomberg.Nnanna said although the monetary policy committee (MPC) wants to keep the major determinant of interest rate positive, the anticipation of increased spending ahead of the 2019 elections could slant some members’ votes toward [...]

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    Rewane: We must prepare, inflation will start increasing from August

Rewane: We must prepare, inflation will start increasing from August

Bismarck Rewane, economic analyst and chief executive officer of Financial Derivatives Company, says consumers must prepare for rising inflation from August 2018.Speaking on a programme on Channels TV on Monday, Rewane said there are predictions that Nigeria will be a high inflation environment in 2019.The National Bureau of Statistics released the June Inflation report on Monday, which showed that inflation [...]

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    Nigeria’s inflation rate rises month-on-month

Nigeria’s inflation rate rises month-on-month

The rate at which the prices of good and services are increasing is rising.Data made available by the National Bureau of Statistics on Monday showed that month-on-month inflation rose from 1.09 percentage points in May to 1.24 percentage points in June.However, year-on-year inflation slowed from 11.61 percentage points in May to 11.23 percentage points in June, marking the 17th consecutive [...]

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    IMF: Nigeria’s inflation rate to rise in second half of 2018

IMF: Nigeria’s inflation rate to rise in second half of 2018

The International Monetary Fund (IMF) says inflation rates will rise in the second half of 2018 as consumer spending increases and agricultural output drops.Lucie Fouda, IMF’s Africa press officer, said a delegation led by Amine Mati, senior resident representative and mission chief for Nigeria, between June 27 and July 9.According to Mati, even though crude oil prices are higher, the [...]

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    We recovered N731bn bad loans in seven years, says AMCON MD

We recovered N731bn bad loans in seven years, says AMCON MD

The Asset Management Corporation of Nigeria (AMCON) says it recovered bad loans worth N731bn, excluding clawbacks, from the start of its operations in 2010 up to December 2017.Assets in form of properties accounted for about 35 percent of the total amount recovered in the seven-year period.Ahmed Kuru, managing director, AMCON, made the disclosure while declaring open a two-day Asset Sales [...]

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    Nigeria inflation declines further in May ECB in focus

Nigeria inflation declines further in May ECB in focus

In an encouraging development, Nigeria’s inflation has eased to 11.6% in May, the lowest level seen in more than two years.With consumer prices slowly edging closer to the Central Bank of Nigeria’s target band of 6%-9%, an interest rate cut seems likely before year-end.The combination of easing inflationary pressures, improving economic fundamentals and ongoing foreign exchange stability could [...]

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    Inflation drops to 11.61% — below FG’s 2018 target

Inflation drops to 11.61% — below FG’s 2018 target

Nigeria's annual inflation has dropped to 11.61% in May, below the federal government's projection of 12.42% set in the 2018-2020 Medium Term Expenditure Framework and Fiscal Strategy Paper.This is the 16th straight month of decline in inflation.Food inflation declined to 13.45% from 14.80% in April.According to the Consumer Price Index for May 2018 released on Wednesday, the highest increases were [...]

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    Inflation drops to 12.48 percent — slightly higher than FG’s 2018 projection

Inflation drops to 12.48 percent — slightly higher than FG’s 2018 projection

Data made available by the National Bureau of Statistics show that inflation rate has again slowed to 12.48 percent in April from the 13.34 percent recorded in March.This figure is 0.6 percentage points higher than the federal government's inflation projection of 12.42 percent for 2018 as contained in the 2018-2020 Medium Term Expenditure Framework and Fiscal Strategy Paper."The GDP is [...]

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    Aishah Ahmad: 2019 election spending may increase inflation

Aishah Ahmad: 2019 election spending may increase inflation

Aishah Ahmad, deputy governor at the Central Bank of Nigeria (CBN), says the anticipated spending for the 2019 election may have inflationary effects on the economy.Speaking at the April monetary policy committee meeting, Ahmad said there is a need for urgent passage of the 2018 budget to boost investment and economic output."The anticipated huge fiscal spending for the proposed 2018 [...]

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    Inflation declines — and it’s the biggest drop in 11 months

Inflation declines — and it’s the biggest drop in 11 months

Data made available by the National Bureau of Statistics (NBS) shows that inflation has again slowed; this time by 0.99 percent points which is the biggest drop in 11 months.In the Consumer Price Index and Inflation Report for March 2018, the NBS said inflation rate has dropped in 13.34 percent from 14.33 percent in February.This is the 14th consecutive month [...]

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    INTERVIEW: Nigeria has borrowed enough, says FXTM researcher

INTERVIEW: Nigeria has borrowed enough, says FXTM researcher

Lukman Otunuga, a research analyst at FXTM, says Nigeria has borrowed enough in recent times and could miss the opportunity to bounce back if borrowed funds are not well utilised.The federal government through the Debt Management Office has issued various debt instruments like the Sukuk, Eurobond, savings bond and plans to float a Green bond in December.In an interview with [...]

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    Food prices hit 13-month low as inflation drops marginally

Food prices hit 13-month low as inflation drops marginally

Data made available by the National Bureau of Statistics (NBS) on Wednesday show that food inflation recorded the lowest month-on-month movement since September 2016.According to the Core Price Index for October 2017 released by the bureau, the country's inflation rate stands at 15.91% in October 2017, marginally down from the 15.98% recorded in September 2017.But the consumer price index (CPI) [...]

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    Inflation rate will drop to single digit by 2018, says Emefiele

Inflation rate will drop to single digit by 2018, says Emefiele

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says inflation rates are projected to drop and record high single-digit rates mid-2018.Emefiele made this known to Journalists on Friday while attending an investment conference at the London Stock Exchange.While annual inflation in Nigeria eased down to 15.98 percent on rising food prices in September, Emefiele said that an inflation [...]

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    Food prices rise but inflation drops for 8th consecutive time

Food prices rise but inflation drops for 8th consecutive time

Data released by the National Bureau of Statistics (NBS) on Tuesday shows that Nigeria's inflation rate dropped to 15.98% from 16.01% for the month of September.It is the eighth consecutive time the country's inflation rate is dropping in 2017.However, all major food sub-indexes increased by 20.32 percent year-on-year in September, an increase from the 20.25 percent recorded in August.The report also [...]

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Exchange Rates

September 14, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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