Inflation in Nigeria
Nigeria - Inflation
Inflation falls to lowest level since February 2016 in May
Consumer prices rose 1.09% on a month-on-month basis in May, above from April’s 0.83% rise and the sharpest increase since July 2017. Higher food prices were behind the spike in price pressures.
Inflation came in at 11.6% in May, down from 12.5% in April and the lowest level since February 2016. Despite the decrease, inflation is still well above the Central Bank’s target range of 6.0%–9.0%.
Core consumer prices, which exclude volatile agricultural produce, rose 1.09% month-on-month in May, above April’s 0.96% increase. Meanwhile, core inflation was unchanged at April’s 11.6% in May.
Nigeria Inflation Forecast
Met the why particular Consensus Forecast panelists expect inflation to average 12.4% in 2018, which is unchanged from last month’s forecast. In 2019, inflation is seen averaging 11.4%.
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||13.63||0.0 %||Aug 07|
|Exchange Rate||305.5||3.08 %||Aug 07|
|Stock Market||1.5||0.0 %||Aug 01|
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August 3, 2018
The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) fell from 58.4 in June to 56.0 in July, the lowest reading since February.
July 24, 2018
At its 23–24 July 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.
July 4, 2018
The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) eased down from May’s record high of 59.1 to 58.4 in June.
June 18, 2018
Consumer prices rose 1.09% on a month-on-month basis in May, above from April’s 0.83% rise and the sharpest increase since July 2017.
June 5, 2018
The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) jumped to a new record high in May, rising from 58.1 in April to 59.1.