INFLATION WATCH – February 2023
A slower pace for February’s Valentine Nigeria’s inflation for February 2023 rose to 21.91% Y-o-Y (Est. +21.80%), an increase of c.0.09% from 21.82% Y-o-Y recorded in January 2023. However, the headline inflation slipped to 1.71% M-o-M in February…
Q4 2022 GDP Highlights
NIGERIA’S GDP GREW BY 3.10% IN 2022 •Nigeria’s Q4 2022 and full year 2022 Gross Domestic Product (GDP) performance reflected a rare silver lining amid the soaring inflationary pressures and high unemployment rate that has befell the economy. The…
INFLATION WATCH – January 2023
Inflation still on the rise, no end in sight. Nigeria’s inflation for January 2023 nudged upward to 21.82% Y-o-Y (Est. +21.30%), an increase of c.0.48% from 21.34% Y-o-Y recorded in December 2022. In addition, the headline inflation grew at 1.87% M-o-M…
INFLATION WATCH – December 2022
Headline Inflation rose to 21.34% in December 2022 Nigeria’s inflation for December 2022 slowed down to 21.34% Y-o-Y (Est. +21.80%), a decline of c.0.13% from 21.47% Y-o-Y recorded in November 2022. In addition, the headline inflation grew at 1.71% M-o-M…
INFLATION WATCH – NOVEMBER 2022
Headline Inflation rose to 21.47% in November 2022 Nigeria’s inflation for November 2022 quickened to 21.47% Y-o-Y (Est. +21.30%), an increase of c.0.38% from 21.09% Y-o-Y recorded in October 2022. In addition, the headline inflation grew at 1.39% M-o-M…
Q3’2022 GDP Highlights
Nigeria Q3’2022 GDP grew by 2.25% Y-o-Y •The National Bureau of Statistics (NBS) released the Gross Domestic Product (GDP) figures for Q3 2022, reporting a real economic growth of +2.25% Y-o-Y (Bloomberg’s estimate +2.90%). •The Q3 2022 growth rate…
INFLATION WATCH – OCTOBER 2022
Headline Inflation rose to 21.09% in October 2022 Nigeria’s Consumer Price Index (CPI) for the month of October 2022 accelerated to 21.09% Y-o-Y (lower than Bloomberg median estimate +21.30%), an increase of c.0.32% from 20.77% Y-o-Y recorded in the…
INFLATION WATCH – SEPTEMBER 2022
Headline Inflation rose to 20.77% in September 2022 Nigeria’s Consumer Price Index (CPI) for the month of September 2022 accelerated to 20.77% Y-o-Y (vs Bloomberg median estimate +21.00%), an increase of c.0.25% from 20.52% Y-o-Y recorded in the month of…
MPC HIGHLIGHT – SEPTEMBER 2022
The Monetary Policy Committee (MPC) concluded its 2-day meeting today and raised the benchmark interest rate by 150bps, from 14.00% to 15.50%. Please see below, a summary of the committee’s decisions: MPR increased to 15.50% from 14.00% CRR increased to…
INFLATION WATCH – AUGUST 2022
Headline Inflation rose to 20.52% in August 2022 Nigeria’s Consumer Price Index (CPI) for the month of August 2022 hit a fresh 17-year high as it accelerated to 20.52% Y-o-Y (Bloomberg median estimate +20.50%), an increase of c.0.88% from 19.64% Y-o-Y…
