inflation rate

Amid a backdrop of changing economic conditions, industry experts forecast a significant downturn in core inflation rates. With an eye on current trends, this downturn is anticipated to push the core consumer price index (CPI) beneath the 3% threshold as early as May. This development arrives in the wake of lowered input costs and a downturn in private consumption, signaling a pivotal moment for economic strategists and market observers alike. A Closer Look at the Factors Driving Inflation Trends Economists…

Nigeria’s annual inflation rate rose to 28.20 per cent in November from 27.33 per cent in the previous month, the National Bureau of Statistics (NBS) said Friday. The statistics office said the November 2023 headline inflation rate showed an increase of 0.87 per cent points when compared to the October 2023 headline inflation rate. The NBS said on a year-on-year basis, the headline inflation rate was 6.73 per cent points higher compared to the rate recorded in November 2022, which was 21.47 per cent. “This shows…