INFLATION
This year the naira plunged to an all-time low of 1,800/$ on the black market in February. In its attempt to save the naira, the CBN under the leadership of Governor Olayemi Cardoso raised interest rates by a combined record 600 basis points in its two meetings in February and March. The CBN […]
The Central Bank of Nigeria has said the country’s inflation rate is better compared to most African nations. The acting Governor of the CBN, Folashodun Shonubi, stated this on Tuesday at the 2023 Zenith Bank International Trade Seminar. Shonubi, who was represented by the Deputy Governor, Economic Policy at the CBN, Kingsley Obiorah, said there […]
Nigeria’s headline inflation rate accelerated for the sixth consecutive time to 22.79 per cent in June 2023, according to data by the National Bureau of Statistics released Monday. The inflation rate in Africa’s biggest economy rose to a new 17-year high of 22.79 per cent in June 2023 from 22.41 per cent in the […]
European stock markets fell at the start of trading on Monday following a drop in Tokyo, as traders tracked the latest inflation developments and fallout from the Wagner revolt. London’s benchmark FTSE 100 index slipped 0.2 per cent to 7,447.85 points. In the eurozone, Frankfurt’s DAX index lost 0.3 per cent to 15,783.40 […]
The country’s Consumer Price Index (CPI), which measures the level of price change in goods and services, hit 19.64 percent in July 2022 from the 18.60 percent recorded in the last month. This is according to the (CPI) report for July 2022 released by the National Bureau of Statistics (NBS) on Monday. According to the […]
Following the increase in the pump price of petrol, some federal and state civil servants have appealed to both governments to increase workers salaries to reduce their hardships. The workers, who spoke to the News Agency of Nigeria (NAN) in separate interviews on Friday in Katsina, said the appeal was necessary because prices of goods […]
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