The Consumer Price Index (CPI) which measures the rate of change in prices of goods and commodities increased by 5.72 per cent to 21.34 per cent year on year in December compared to 15.63 per cent in December 2021, the National Bureau of Statistics (NBS) stated yesterday. Month-on-month inflation also rose to 1.71 per cent … [Read more…]
The President, Nigeria LPG Association, Mr. Nuhu Yakubu, said the association had been engaging with relevant agencies, with a view to addressing the issues. Speaking at the just-concluded 11th International Conference and Exhibition in Lagos, he said: “As an association, we are currently engaging with respective government agencies in addressing issues around … [Read more…]
The World Bank says Nigeria’s inflation rate is expected to rise to the fifth highest in Sub-Saharan Africa by the end of 2021, behind only Zimbabwe, Zambia, South Sudan and Angola. This was disclosed at the presentation of Nigeria’s Development Report for the first six months of 2021 by the World Bank … [Read more…]
Inflation is deepening poverty and crippling the economy, experts said yesterday as the National Bureau of Statistics (NBS) released its May figure. Although hardline inflation gained a marginal 0.19 per cent from the April rate, leaving it at 17.93 per cent, the World Bank said additional seven million people have been pushed below the … [Read more…]
THE coronavirus pandemic has contributed a lot to the current food inflation ravaging Nigerian families. Coming in February/March, the beginning of the planting season, and forcing a prolonged national lockdown, it prevented many of our farmers from sowing their seeds. Food inflation, according to the National Bureau of Statistics, NBS, rose from 16.66 per … [Read more…]