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The post Nigeria’s currency has fallen to a record low as inflation surges. ... released Thursday showed the inflation rate in January rose to 29.9%, its highest since 1996, mainly driven by ...
Nigeria's inflation rate rose to 15.63 per cent in December 2021 compared to 15.40 per cent in November, the National Bureau of Statistics announced on January 17, 2022. The statistics office said the prices of goods and services, measured by the Consumer Price Index, increased by 15.63 per cent in December 2021 when compared to December 2020.
The Central Bank of Nigeria claimed that they attempted to control the annual inflation rate below 10%. In 2011, the CBN increased key interest rate six times, rising from 6.25% to 12%. On 31 January 2012, the CBN decided to maintain the key interest rate at 12%, in order to reduce the impact of inflation due to a reduction in fuel subsidies. [14]
A CPI is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically. Sub-indices and sub-sub-indices can be computed for different categories and sub-categories of goods and services, which are combined to produce the overall index with weights reflecting their shares in the total of the consumer expenditures covered by the ...
Police fire tear gas during a protest against Nigeria's cost-of-living crisis in Abuja on Aug. 1, 2024. ... The inflation rate is also at 28-year high and the local naira currency at record lows ...
The latest government statistics released Thursday showed the inflation rate in January rose to 29.9%, its highest since 1996, mainly driven by food and non-alcoholic beverages. ... of Abuja have ...
The Daily Times was a Nigerian newspaper with headquarters in Lagos.At its peak, in the 1970s, it was one of the most successful locally-owned businesses in Africa. [1]The paper went into decline after it was purchased by the government in 1975.
World map by inflation rate (consumer prices), 2023, according to World Bank This is the list of countries by inflation rate. The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1. Inflation rate is defined as the annual percent change in consumer prices compared with the previous year's consumer prices. Inflation is a positive value ...