Category: Macroeconomic Update

Headline Inflation in Nigeria increased to 18.60% in June 2022 Nigeria’s Consumer Price Index (CPI) for June 2022 printed higher at 18.60% Y-o-Y (Bloomberg median estimate +18.50%), an increase of…

Headline Inflation in Nigeria increased to 17.71% in May 2022 Nigeria’s Consumer Price Index (CPI) for May 2022 printed higher at 17.71% Y-o-Y (Bloomberg median estimate +17.50%), an increase of…

The Monetary Policy Committee (MPC) concluded its 2-day meeting today, and unexpectedly hiked the benchmark interest rate by 150bps to 13.00% (the first time since July 2016, from 12% to…

Nigeria Q1’2022 GDP grew by 3.11% Y-o-Y • The National Bureau of Statistics (NBS) published the Gross Domestic Product (GDP) figures for Q1:2022 today, revealing a 3.11% Y-o-Y growth in…

Rising global commodity prices steered Nigeria’s inflation to 16.82% in April 2022 Nigeria’s Consumer Price Index (CPI) for April 2022 printed significantly higher at 16.82% Y-on-Y (an 8-month high), up…

Nigeria’s CPI increases to 5-month high at 15.92% in March 2022 Nigeria’s annual inflation accelerated to 15.92% in March 2022 (12bps higher than Bloomberg’s consensus estimate), representing a 22bps increase…

Nigeria’s Monetary Policy Committee (MPC) concluded its second meeting of 2022 today, maintaining all key rates. Please see below, a summary of the committee’s decisions: – Retain MPR at 11.50%…

Surge in Energy prices drives Nigeria’s headline inflation rate to 15.70% Nigeria’s Consumer Price Index (CPI) for February 2022 expanded by 15.70% year-on-year, 10bps higher than January 2022 figures at…

The Nigerian economy sustained its growth trajectory for the fifth consecutive quarter, as the economy recorded a real growth rate of +3.98% year-on-year in Q4 2021, with a cumulative 2021…

Nigeria’s Headline Inflation Slows in January Nigeria’s Consumer Price Index (CPI) for January 2022 expanded by 15.60% year-on-year, down from 15.63% recorded in December 2021. The composite food sub-index grew…