No Respite as Nigeria’s Inflation Spikes
editorApril 26, 2020 5:08 Am
There are no indications that consumers will be relieved of the burden of rising commodity prices in the short to medium term as projection for inflation in the month of April suggests that headline inflation will further increase. For the seventh consecutive time, inflation surged year on year in March to 12.26 per cent as against 12.20 per cent in February. Meanwhile, palliative measures being planned by the federal government and Central Bank of Nigeria might just be the only hope of survival for the increasing poor population in Africa’s biggest economy. Bamidele Famoofo reports
According to experts, headline inflation is expected to increase by 0.98 per cent month on month, cascading into 12.30 per cent year on year in April 2020. This, definitely, is not a good news for a very large number of the Nigerian population, who wallow in poverty, finding it very difficult to feed themselves and fend for their families especially in this turbulent economic times occasioned by falling oil prices and the Covid-19 malady.
The National Bureau of Statistics (NBS), last week revealed that the Consumer Price Index (CPI) which measures inflation recorded an increase of 0.06 percent in March, expanding to 12.26 percent compared to 12.20 percent recorded in February.
Source:https://www.thisdaylive.com/index.php/2020/04/26/no-respite-as-nigerias-inflation-spikes/
editorApril 26, 2020 5:08 Am
There are no indications that consumers will be relieved of the burden of rising commodity prices in the short to medium term as projection for inflation in the month of April suggests that headline inflation will further increase. For the seventh consecutive time, inflation surged year on year in March to 12.26 per cent as against 12.20 per cent in February. Meanwhile, palliative measures being planned by the federal government and Central Bank of Nigeria might just be the only hope of survival for the increasing poor population in Africa’s biggest economy. Bamidele Famoofo reports
According to experts, headline inflation is expected to increase by 0.98 per cent month on month, cascading into 12.30 per cent year on year in April 2020. This, definitely, is not a good news for a very large number of the Nigerian population, who wallow in poverty, finding it very difficult to feed themselves and fend for their families especially in this turbulent economic times occasioned by falling oil prices and the Covid-19 malady.
The National Bureau of Statistics (NBS), last week revealed that the Consumer Price Index (CPI) which measures inflation recorded an increase of 0.06 percent in March, expanding to 12.26 percent compared to 12.20 percent recorded in February.
Source:https://www.thisdaylive.com/index.php/2020/04/26/no-respite-as-nigerias-inflation-spikes/
