The National Bureau of Statistics (NBS) has revealed that the food inflation rate in February 2025 was 23.51% on a year-on-year basis. February’s food inflation rate was 14.41% lower compared to the rate recorded in February 2024 (37.92%). The significant decline in the food inflation figure is technically due to the change in the base […]
Nigeria’s headline inflation has dropped to 24.48 per cent year on year in January 2025. This is a sharp decline from the 34.80 per cent headline inflation recorded in December 2024. This is according to the National Bureau of Statistics (NBS). The Statistician-General of the Federation Adeyemi Adeniran announced this on Tuesday. He said the […]
Partner and Lead for Strategy & West Africa at PwC, Olusegun Zacchaeus, has projected that Nigeria’s inflation will decline to 26 percent, while the exchange rate will remain stable in 2025. Zacchaeus made the projection at the PwC and BusinessDay Executive Roundtable on Nigeria’s 2025 Budget and Economic Outlook with the theme, “Insights and Strategies for […]
The National Bureau of Statistics says Nigeria’s inflation rate rose to 34.6 percent in November — up from 33.8 percent in October. In its consumer price index (CPI) report for November published on Monday, NBS said the rate represents an increase of 0.72 percent compared to the October 2024 rate. “On a year-on-year basis, the Headline inflation rate […]
A rise in energy prices pushed UK inflation to its highest rate for six months, official figures show. The inflation rate, which measures price changes over time, hit 2.3% in the year to October, a bigger-than-expected increase from 1.7% in September. Annual gas and electricity bills for a typical household went up by about £149 […]
Nigeria’s inflation rose to 33.88 percent in October 2024, from 32.70 percent recorded in the previous month. The National Bureau of Statistics, NBS, disclosed this on Friday in its Consumer Price Index and Inflation report for October 2024. Looking at the data, month-on-month, Nigeria’s headline inflation rate in October 2024 was 2.64 percent. This comes […]
Nigeria’s headline inflation increased to 32.70 percent in September 2024 from 32.15 recorded in August amid the hike in the pump price of petrol. The National Bureau of Statistics, NBS, disclosed this on Tuesday in its Consumer Price Index and Inflation report for September 2024. Looking at the movement, the September 2024 headline inflation rate […]
The high inflation rate in Nigeria dropped slightly in August, but a decline in the value of the nairia and a continued increase in fuel prices are eroding the slight gains and threatening to reignite the inflationary trend. Michael Anthony, an engineer and father of four, still faces high costs despite the small drop in […]
Nigeria’s inflation fell to 33.40 percent in July 2024 from 34.19 percent in June on a year-on-year basis. This is the first time the country’s inflation has cooled down since December 2022 when it stood at 21.34 percent. The National Bureau of Statistics disclosed this in its latest Consumer Price Index and Inflation for July […]
Kogi, Kwara, and Ondo are the three states in Nigeria with the highest food prices amid worsening hardship. This is according to the latest National Bureau of Statistics April’s Consumer Price Index and Inflation report. The report ranked Kogi State with the highest food inflation rate at 48.62 per cent, followed by Kwara (46.73 per […]
Nigeria’s inflation surged to 33.69 per cent in April from 33.20 per cent in March, amid worsening economic hardship in the country. The National Bureau of Statistics, NBS, disclosed this in its latest consumer price index and inflation report released on Wednesday. The figure showed that Nigeria’s inflation continued to jump since the commencement of […]
The Nigerian government will release its April inflation figure on Wednesday, May 15. This development comes as the National Bureau of Statistics usually unveils its monthly inflation figure mid-month. Meanwhile, Financial Derivatives Company had recently forecasted that the country’s headline inflation would rise to 34.25 per cent in April from 33.22 per cent in March. […]
The National Bureau of Statistics (NBS), has stated that Nigeria’s headline inflation rate nudged higher to 33.2% y/y in March 2024 from 31.7% y/y in the previous month. Compared to the same period in 2023, the headline index print represents an 11.2ppts increase in the general price level in the last twelve months (LTM) – […]
With Nigerians facing a possible 32 percent inflation surge for March, the UK releases unemployment and inflation figures that could influence the Bank of England’s interest rate decision. The National Bureau of Statistics will be releasing the March inflation figures. The Financial Derivatives Company has projected that inflation will hit 32 percent, further squeezing the […]
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, says Nigeria’s inflationary pressure will drop from 28.92 per cent to 21.4 per cent in 2024. Cardoso said this in Abuja on Tuesday when he addressed the House of Representatives. According to him, the projected decline in the country’s inflationary is due to […]
The country’s inflation rate is now at 28.9 %, according to figures from the National Bureau of Statistics (NBS). This was disclosed in the NBS December 2023 Consumer Price Index (CPI) which was released on Monday afternoon. The CPI measures the rate of change in the prices of foods and services. Before Monday’s release, the […]
The inflation rate in Nigeria has increased 24 times in the last 25 months (two years). This is according to an analysis of the Commodity Price Index reports published by the National Bureau of Statistics. The analysis showed that between October 2021 and October 2023, Nigeria’s inflation increased 24 times, with a singular exception of […]
Nigeria’s inflation rate rose to 26.72% in September 2023 amid soaring food prices and harsh economic realities occasioned by the removal of fuel subsidy in May. This was according to the September 2023 Consumer Price Index (CPI) and Inflation Report released by the National Bureau of Statistics (NBS) on Monday. The CPI, which measures the […]
Nigeria’s inflation has jumped to 25.80% for August 2023, according to the Consumer Price Index (CPI) released by the National Bureau of Statistics (NBS). The latest figure is 1.72% points higher than the 24.08% reported in July, the Friday report added. “In August 2023, the headline inflation rate increased to 25.80% relative to the July […]
The consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 24.08 percent in July 2023 — up from 22.79 percent in the previous month. The latest figure is the seventh consecutive rise in the country’s inflation rate this year. The National Bureau of Statistics (NBS) captured […]
