Category: Macroeconomic Update

Inflation Watch – Nigeria’s Inflation: To The Moon ! In January 2024, Nigeria’s headline inflation surged, accelerating by 0.98% to 29.90% y/y (estimated at 29.5% y/y), compared to 28.92% y/y…

Inflation Watch – Final Inflation print for 2023 remains elevated Nigeria’s headline inflation increased at 28.92% y/y in December, adding 0.72 percentage points from 28.20% y/y in November 2023, and…

Nigeria’s Inflation: The Wave of Escalating Prices Linger Nigeria’s year-on-year inflation paced higher in November at 28.20%, adding 0.87 percentage points from 27.33% y/y in October 2023, and beating 27.90%…

NIGERIA’S GDP GREW BY 2.54% IN Q3’2023 In Q3’2023, Nigeria’s Gross Domestic Product (GDP) exhibited a year-on-year growth of 2.54%, slightly below the Bloomberg estimate of 2.85%. This growth marked…

Nigeria’s Headline Inflation Soared to 27.33%, amidst higher input costs and a weaker naira. In October, Nigeria’s year-on-year inflation rose to 27.33%, up from 26.72% in September 2023, contributing an…

Nigeria’s headline Inflation soars to 26.72%, an 18-year high Nigeria’s inflation for September jumped to 26.72% y/y, from 25.80% y/y in August 2023, adding 0.92 percentage points between August and…

Inflation Watch – August’23 Inflation at 25.80% y/y Nigeria’s inflation for August increased to 25.80% y/y, from 24.08% y/y in July 2023, adding 1.72 percentage points between July and August…

NIGERIA’S GDP GREW BY 2.51% IN Q2’2023 Nigeria’s Q2’23 Gross Domestic Product (GDP) grew by 2.51% Y-o-Y, lower than the 2.80% estimate. Although, the growth rate was lower than 3.54%…

Inflation Watch – Headline and Core (modified) Inflation at 24.08% y/y and 20.47% y/y Nigeria’s inflation for July jumped to 24.08% y/y, from 22.79% y/y in June 2023, accruing 1.29%…

The Monetary Policy Committee (MPC) concluded its 2-day meeting today and raised the benchmark interest rate by 25bps to 18.75% and adjusted its asymmetric corridor to -300/+100 basis points around…