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Nigeria’s Inflation Rate Hits 21.09%

Nigeria’s inflation rate rose to a 17-year high of 21.09% in October 2022, the National Bureau of Statistics said. This is a 0.32% point increase from 20.77% recorded in September. The NBS made this known in its Consumer Price…

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Eurozone Inflation Jumps To Record 10.7 Percent

Consumer price growth in the 19 countries sharing the euro accelerated in October, putting pressure on the ECB. Eurozone government bond yields have risen after inflation data showed consumer prices climbed at a record pace in October, heaping pressure…

CBN raises interest rate to 15.5% to curb Inflation

CBN Raises Interest Rate To 15.5% To Curb Inflation

The Central Bank of Nigeria has raised the Monetary Policy Rate (MPR), which measures interest rate, to 15.5 percent from 14 percent. CBN Governor, Godwin Emefiele, made this known on Tuesday, September 27 after a Monetary Policy Committee meeting…

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Nigeria: Inflation Reaches 11-Month High of 17 Percent

The continuing war in Ukraine is partly responsible for upward price pressures on Nigeria, which relies on import of critical food materials like wheat, from the Black Sea region. Inflation in Nigeria maintained a “galloping trend” in May, rising…

Nigeria?s inflation rate rises to 15.63%

Nigeria’s inflation Rate Rises To 15.63%

The consumer price index, which measures the rate of increase in the price of goods and services, in Nigeria, increased to 15.63 percent in December 2021. This is contained in the latest report released by the National Bureau of Statistics…

Nigeria?s inflation rate hits 12.56%
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Nigeria’s Inflation Rate Hits 12.56%

Nigeria has recorded its highest inflation rate in 26 months as confirmed by the National Bureau of Statistics (NBS) on Friday July 17.   In its CPI and Inflation Report for June, the agency disclosed that the country’s inflation rose…