Inflation in Nigeria
Nigeria - Inflation
Inflation edges up for the first time in 19 months but stays near the two-and-a-half year low in August
Consumer prices rose 1.05% on a month-on-month basis in August, slightly below July’s 1.13%. The result marked the second consecutive month of easing price pressures and the lowest print since April.
Inflation came in at 11.2% in August, edging up from July’s 11.1%—the first uptick in the headline rate since January 2017. As a result, inflation remained well above the Central Bank’s target range of 6.0%–9.0%.
Meanwhile, core consumer prices, which exclude volatile agricultural produce, rose 0.78% month-on-month in August, below July’s 0.81% increase. Furthermore, core inflation fell to 11.0% in August (July: 11.2%).
Nigeria Inflation Forecast
Met the why particular Consensus Forecast panelists expect inflation to average 12.0% in 2018. In 2019, inflation is seen averaging 11.1%.
Nigeria - Inflation Data
|Inflation Rate (CPI, annual variation in %)||8.5||8.1||9.0||15.7||16.5|
5 years of economic forecasts for more than 30 economic indicators.
Nigeria Inflation Chart
Source: National Bureau of Statistics
|Bond Yield||14.92||0.0 %||Oct 16|
|Exchange Rate||306.0||3.08 %||Oct 16|
|Stock Market||0.1||0.0 %||Oct 16|
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October 4, 2018
Economic conditions firmed in Nigeria in September.
September 25, 2018
At its 24–25 September meeting, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) decided to leave the monetary policy rate as well as all other monetary policy parameters unchanged, meeting market expectations.
Nigeria: Inflation edges up for the first time in 19 months but stays near the two-and-a-half year low in August
September 14, 2018
Consumer prices rose 1.05% on a month-on-month basis in August, slightly below July’s 1.13%.
September 6, 2018
The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) was largely stable in August.
August 27, 2018
Nigeria’s recovery lost momentum in the second quarter, with growth falling to a one-year low.