INFLATION WATCH – JUNE 2024
Inflation Watch – The Upward Trend in Month-on-Month Inflation Resumes Nigeria’s headline inflation for June 2024 accelerated to 34.19% y/y from 33.95% y/y in May, according to data from the…
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Inflation Watch – The Upward Trend in Month-on-Month Inflation Resumes Nigeria’s headline inflation for June 2024 accelerated to 34.19% y/y from 33.95% y/y in May, according to data from the…
Inflation Watch – Consumer Prices in Nigeria Bites Harder. In May, Nigeria’s headline inflation reached a new high at 33.95% year-on-year, up from 33.69% in April 2024 (Bloomberg’s estimate: 34.10%),…
NIGERIA’S GDP GREW AT 2.98% IN Q1’2024 vs 2.31% IN Q1’2023 Nigeria’s Gross Domestic Product (GDP) grew by 2.98% year-on-year in Q1 2024, as per Bloomberg’s estimate of 3.49%. This…
During today’s MPC meeting, Dr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria, reiterated that the MPC’s primary focus is to achieve price stability. He also noted the…
Inflation Watch – Nigerian Inflation accelerates to 33.69% in April. In April, Nigeria’s headline inflation increased to 33.69% year-on-year from 33.20% in March 2024 (Bloomberg’s estimate: 34.20%). However, monthly headline…
In March, Nigeria’s headline inflation surged to 33.20% y/y, marking an increase of 1.50% from February’s figure of 31.70% y/y (compared to Bloomberg’s estimated 32.90%). However, monthly headline inflation slightly…
Dr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria, highlighted that the recent Monetary Policy Committee (MPC) deliberations heavily weighed on inflationary pressures and exchange rate fluctuations. The…
Nigeria’s headline inflation for February crossed the psychological 30% mark at 31.70% y/y, from 29.90% y/y in January, adding 1.80% in one month period (Bloomberg’s estimate: 31.30%). Monthly headline inflation…
The highly anticipated Monetary Policy Committee (MPC) meeting, the first since July 2023 and the inaugural session under the leadership of Dr. Olayemi Cardoso following his appointment as the Governor…
NIGERIA’S GDP GROWTH RATE AT 2.74% IN 2023 (vs 3.10% IN 2022) Nigeria’s Gross Domestic Product (GDP) witnessed a notable expansion of 3.46% year-on-year in the fourth quarter of 2023,…