If this number holds, $100 today will be equivalent in buying power to $100.65 next year. Main upward pressure came from food prices (14.98% vs 14.90% in February). GDP growth (annual %) - Nigeria.
Annual core inflation, which excludes farm produce, hit 10.12% in May, the highest since July 2018. The current year-over-year inflation rate (2019 to 2020) is now 0.65% 1. As the graph below shows, over the past 58 years this indicator reached a maximum value of 72.84 in 1995 and a minimum value of -3.73 in 1967. On a monthly basis, consumer prices were up 1.21%, the most since June of 2018, after increasing 1.17% in the prior month. In the last yea...Nigeria’s Inflation rate increases in Dec. 2018 — NBS In 2018, inflation rate for Nigeria was 12.1 %. In February 2018, the monthly Food Price Index (FPI) from the Food and Agriculture Organization (FAO) revealed that the Index averaged 170.8 points, 1.07% higher than the revised value for January but 2.68% lower than the February 2017 figure. It was the highest rate since March of 2018 as food prices surged 15.18%, the most in over two years, amid disruptions in the supply of products as farming activities are yet to recover from the impact of the nationwide lockdown and movements restrictions, which blocked food producers from access to the farms. Nigeria's annual inflation rate rose for a ninth straight month to 12.40% in May of 2020 from 12.34% in the prior month.
A Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etcAbuja – The National Bureau of Statistics (NBS), says the Consumer Price Index (CPI) which measured inflation increased to 11.44 per cent (year-on-year) in Dec. 2018 from 11.28 per cent recorded in Nov. 2018.The bureau said the figure was 0.16 per cent points higher than the rate recorded in November in the period under review.It said the increases were recorded in all Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the Headline index.On a month-on-month basis, it said the headline index increased by 0.74 per cent in the period under review by 0.06 per cent points from the rate recorded in Nov. 2018 (0.80 per cent).It said the percentage change in the average composite CPI for the 12 months period ended December over the average of CPI for the previous 12 months period.It, however, measured the CPI at 12.10 per cent in the period under review, indicating a 0.31 per cent decline from 12.41 per cent recorded in Nov. 2018.According to the bureau, the urban inflation rate increased to 11.73 per cent (year-on-year) in Dec. 2018 from 11.61 per cent recorded in November of the same year.On a month-on-month basis, NBS said the urban index rose by 0.76 per cent in the period under review, showing a decline of 0.07 per cent from 0.83 per cent recorded in Nov. 2018.Similarly, it said the rural index also rose by 0.72 per cent in Dec. 2018, indicating a decrease of 0.06 per cent from the rate of 0.78 per cent recorded in Nov. 2018. The Central Bank of Nigeria (CBN) weakened the official exchange rate for the second time on 7 July amid pressure from international lenders and investors to unify its multiple exchange rates. Development of inflation rates in Nigeria The inflation rate for consumer prices in Nigeria … The description is composed by our digital data assistant. Nigeria: Central Bank weakens currency again in July.
Food prices rose 15.03 percent, the most since March 2018, amid the coronavirus crisis.
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