Inflation in Nigeria
Nigeria - Inflation
Inflation inches up in April
Consumer prices rose 0.94% on a month-on-month basis in April, up from March’s 0.79% climb. The acceleration was largely driven by faster growth of food prices.
Inflation ticked up from 11.3% in March to 11.4% in April. Thus, it moved further above the Central Bank’s target range of 6.0%–9.0%.
Meanwhile, core consumer prices, which exclude volatile agricultural produce, rose 0.70% month-on-month in April, above March’s 0.53% increase. In addition, core inflation edged down to an over three-year low of 9.3% in April (March: 9.5%).
Met the why particular Consensus Forecast panelists expect inflation to average 11.7% in 2019, which is down 0.2 percentage points from last month’s forecast. In 2020, inflation is seen averaging 11.5%.
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||14.41||0.0 %||May 13|
|Exchange Rate||306.5||3.08 %||May 13|
|Stock Market||1.1||0.0 %||May 06|
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May 15, 2019
Consumer prices rose 0.94% on a month-on-month basis in April, up from March’s 0.79% climb.
May 6, 2019
The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) edged up from 53.6 in March to 55.5 in April, hitting a five-month high.
April 16, 2019
Consumer prices rose 0.79% on a month-on-month basis in March, marginally above February’s 0.73% increase.
April 3, 2019
In March, the Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) came in at 53.6, slightly above February’s 20-month low of 53.3.
March 26, 2019
At its 25–26 March meeting, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) cut the monetary policy rate from a record-high of 14.00%, which had remained in place since July 2016, to 13.50% in a move that took market analysts by surprise.