Inflation Archives

Feb

09

2024

Ohanaeze advises Tinubu to engage Okonjo-Iweala, Ezekwesili, Adesina in addressing Nigeria’s hardship

Business, Economy, NewsBreaking, Business, Economy, Inflation

The revered Igbo group Ohanaeze Ndigbo has condemned the incompetence, nepotism-based appointments, and corruption that have plagued the Buhari and Tinubu administrations, respectively, which has contributed to the present economic crisis, inflation, and uncertainty in Nigeria. Essential commodity prices have soared to record levels, causing enormous pain for Nigerians. The widespread indignation in the nation is a reflection of the intolerable suffering caused by the constant threat of starvation that its inhabitants face. Nigerians have become tired of the federal government's empty promises, which have been made worse by the Naira's depreciation as a result of the current FX exchange…

Nigerian inflation soared to 28.20% in November, according to NBS

Business, Economy, Metro, NewsBusiness, Economy, Inflation

Nigeria's headline inflation rate increased from 27.33 percent in October 2023 to 28.20 percent in November. This was revealed in the National Bureau of Statistics' consumer price index data from November. The graph shows Nigeria's headline inflation rates for the eleventh time in 2023. In November 2023, the headline inflation rate was 0.87 percentage points higher than it was in October 2023. The headline inflation rate was 6.73 percentage points higher year over year than the rate of 21.47 percent recorded in November 2022. This demonstrates that, when compared to the same month in the previous year (November 2022). the…

IMF says Nigeria, others at risk of political instability over Inflation

Economy, Metro, News, Opinion, PoliticsEconomy, Federal government, Inflation, Metro, Next Level, Nigeria, Opinion

The International Monetary Fund, IMF has said Nigeria and other countries in the Sub-Saharan African region risk social and political instability and worsening food insecurity because of rising inflation. According to the IMF, inflation has nearly doubled pre-pandemic levels in the region, adding that while there is a significant difference between countries, the median inflation rate in the region increased to almost nine percent in August. It said, “And even though the rise has been less dramatic than in other parts of the world, and the drivers are different, inflation is nearly double pre-pandemic levels, risking social and political instability…