Bolstered by festive season demand, Nigeria’s inflation rises to 34.8% in December 2024, up from 34.6% in November, reports the National Bureau of Statistics.The apex government data agency made this known in its latest Consumer Price Index (CPI) report which measures the rate of change in prices of goods and services. The December 2024 headline…
Nigeria’s headline inflation rate is projected to average 30.5% year-on-year in 2025 and settle at 27.1% by December 2025. According to the latest NESG-Stanbic IBTC Business Confidence Monitor report, the forecast is based on the premise that headline inflation is expected to remain sticky in September 2025 but settle below 30.0% from September 2025, as…
After declining steadily in July and August, Nigeria’s headline inflation rate increased to 32.70 percent in September 2024. This was in accordance with the National Bureau of Statistics’ most recent Consumer Price Index data. In September 2024, the World Bank predicted that Nigeria’s inflation rates would continue to grow, primarily due to a notable increase…
This is because food inflation is over 40% and the overall inflation rate is 33.40 percent according to the National Bureau of Statistics (NBS) most recent data. According to the CBN report, the survey, which had a 99.7% response rate, was conducted from July 22 to July 26, 2024. The NBS master sample list, which included 1,665 homes across the 36 federation states and the Federal Capital Territory, was used to determine the sample size. According to the Household Expectations Survey data the CBN made available on its website, many Nigerians plan to reduce their consumption of non-essential commodities over the course of the next three to six months. However, throughout the next six months, they want to spend 54.9% of their income on food.
A newly published report by the National Bureau of Statistics (NBS) has indicated a decline in Nigeria’s headline inflation rate to 33.40%in July 2024 from 34.19% in June 2024. This is the first decline since December 2022, when it was last at 21.34 percent. The headline inflation rate fell by 0.79 percentage points in July…
