US inflation soared 7% in past year, the most since 1982
US inflation jumped at its fastest pace in nearly 40 years last month, a 7% spike from a year earlier that is increasing household expenses, eating into wage gains and heaping pressure on President Joe Biden and the Federal Reserve to address what has become the biggest threat to the U.S. economy. Prices have risen sharply […]
Insecurity, others push up inflation to 14.9%
…As food inflation hits 18.3% ECONOMY THERE are indications that the rising insecurity, border closure, increases in Value Added Tax (VAT), pump price of fuel, electricity tariffs and exchange rates have combined to further pressure headline inflation rate to 14.9 percent in November, 2020. This represents the 15th consecutive month-on-month (MoM) rise in inflation since […]
INFLATION: Agusto & Co warns Nigerians against liabilities in hard currencies
Due to the weakening of the Naira value against the world’s major currencies, Nigerians should not build up liabilities in hard currencies as the tendency is that more Naira will be required to repay the debt in the long run.
Inflation: NACCIMA counsels govt on speedy implementation of stimulus packages
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) wants the government to accelerate the effective implementation of all stimulus packages and interventions funds to support the production processes of the real sector. Amb. Ayoola Olukanni, Director-General, NACCIMA, gave the advice in a statement on Monday in Lagos, in reaction to the […]
Nigeria’s inflation hits 14.2% in October — NBS
By Elizabeth Adegbesan The country’s inflation rate rose by 0.5 per cent point to 14.2 per cent in October from 13.7 percent in September 2020. This represents the 14th consecutive monthly rise in Headline inflation since September 2019 when it stood at 11.24 per cent. Similarly, food inflation rose by 0.72 per cent point in […]
#EndSARS protests: Inflation may rise if looting continues — Economist
Dr Aminu Usman, an Economist says inflation may worsen if looting continues and states are forced to shut down, especially Lagos, as a result of effects of the activities of hoodlums in the aftermath of the #EndSARS protests.
UK inflation rises as cheap virus meal scheme ends
British inflation rose to 0.5 per cent in September, official data showed Wednesday, as the UK government ended a meals discount scheme boosting the restaurant sector battered by the coronavirus pandemic. The annual inflation rate, as measured by the UK’s Consumer Prices Index, increased from a near five-year low of 0.2 percent in August. The […]
Just In: Nigeria’s inflation rises to 13.7%
By Emmanuel Elebeke Nigerian inflation has continued on a rising trend, increasing by 13.71 per cent (year-on-year) in September 2020. A monthly report released by the National Bureau of Statistics, NBS on Thursday said the increase is 0.49 per cent points higher than the (13.22) per cent rate recorded in August 2020. According to the […]
Inflation, forex scarcity worsens woes in manufacturing sector
Growth rate in the manufacturing sector is projected to suffer further decline in September and third quarter of 2020 as operators come under a renewed wave of inflation and foreign exchange scarcity.
Rise in prices of bread, cereal, yam, others escalate Nigeria’s inflation
•Records 7th consecutive month rise •New FX policy to add more pressure from Sept By Babajide Komolafe, Michael Eboh & Elizabeth Adegbesan Nigeria’s inflation has recorded seventh-month consecutive rise to 13.22 percent in August. Headline inflation rate stood at 12.2 percent in February from where it rose steadily every month to 13.22 percent in August. […]
Nigeria’s inflation records 7 months rise to 13.22% in August
By Elizabeth Adegbesan Nigeria’s inflation has recorded seven months (from February to August) rise to 13.22 percent in August. The headline inflation rate stood at 12.20 percent in February from where it rose by 1.02 percent to 13.22 percent in August. When compared to 12.82 percent recorded in July 2020, inflation rate rose year-on-year (YoY) […]
