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Nigeria's Inflation Rate Rises Again to 12.8%
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<blockquote data-quote="ProfRem" data-source="post: 217959"><p>Nigeria’s yearly inflation rose to 12.8% last month from 11.4% in February, even as growth projections of the economy remain gloomy.</p><p></p><p>According to the National Bureau of Statistics (NBS): “The higher price level was reflected in faster increases across all divisions,” adding that it is expecting inflation to end the year at 10.16%, which is above the apex bank’s upper limit target of 9%.</p><p></p><p>[ATTACH]77485[/ATTACH] </p><p></p><p>Transportation costs, the planting season, and foreign exchange movements created significant upward pressures on the Food index in March.</p><p></p><p>The Food index increased by 12.7%, up by 1.4 per cent points from rates recorded in February as all major food groups, which contribute to the food sub-index, increased at a faster pace.</p><p></p><p></p><p></p><p></p><p></p><p>Read more: <a href="http://www.nigerianstat.gov.ng/report/380">NBS report</a></p></blockquote><p></p>
[QUOTE="ProfRem, post: 217959"] Nigeria’s yearly inflation rose to 12.8% last month from 11.4% in February, even as growth projections of the economy remain gloomy. According to the National Bureau of Statistics (NBS): “The higher price level was reflected in faster increases across all divisions,” adding that it is expecting inflation to end the year at 10.16%, which is above the apex bank’s upper limit target of 9%. [ATTACH]77485[/ATTACH] Transportation costs, the planting season, and foreign exchange movements created significant upward pressures on the Food index in March. The Food index increased by 12.7%, up by 1.4 per cent points from rates recorded in February as all major food groups, which contribute to the food sub-index, increased at a faster pace. Read more: [URL='http://www.nigerianstat.gov.ng/report/380']NBS report[/URL] [/QUOTE]
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Nigeria's Inflation Rate Rises Again to 12.8%
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