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Inflation

Nearly $200 million invested in food security in Nigeria—US Embassy

The Head of the United State Embassy in Nigeria, David Greene, says the United States’ government has for over five years invested about $200 million in food security in Nigeria through its international development agency. The official made the disclosure Thursday while delivering his remarks during the launch of the US government’s Global Food Security Strategy Country Plan for Nigeria in Abuja. “USAID invested almost $200 million in agriculture over the last five years to improve food security and build…

Addressing inflation requires more than monetary policy

A member of the Central Bank of Nigeria‘s Monetary Policy Committee (MPC), Murtala Sagagi, has highlighted the complex nature of Nigeria’s inflation challenges. According to him, mere monetary policy readjustments will have a limited impact on inflation rates without simultaneous efforts to tackle the underlying issues of insecurity and food shortages. According to his statement during the last MPC meeting held between 26 and 27 February, the country needs a comprehensive approach to tackle inflationary pressure.…

Economists Predict Core Inflation to Dip Below 3% in May Amid Market Shifts

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…

UPDATED: Nigeria’s inflation hits 31.70% amid high food prices

Nigeria’s annual inflation rate rose to 31.70 per cent in February from 29.90 per cent in January, the National Bureau of Statistics (NBS) said on Friday. The statistics office said the February 2024 headline inflation rate showed an increase of 1.80 per cent compared to the January 2024 headline inflation rate. The NBS said on a year-on-year basis, the headline inflation rate was 9.79 per cent points higher than the rate recorded in February 2023, which was 21.91 per cent. “This shows that the headline…

CBN speaks on fertiliser donated to boost food production

The Central Bank of Nigeria (CBN) has provided clarifications regarding its recent donation of 2.15 million bags of fertilisers to farmers across the country through the Federal Ministry of Agriculture and Food Security. The CBN had on Wednesday donated fertilisers valued at over N100 billion at current market prices, aiming to support domestic agricultural production and address rising food inflation. Inflation in Nigeria has continued to rise largely because of the high cost of food items. As of February, the…

Column: Cereal for dinner? It’s one way to beat supermarket inflation

Every once in a while, Shardreata Moore gets a Subway coupon in the mail, and she knows she won’t have to worry about her next three meals. “I get a $7.99 footlong and have them cut it in threes,” the retiree told me.Moore, who was having lunch at the Sherman Oaks East Valley Senior Center, says she goes to Subway to order a chicken sandwich on whole grain bread, with spinach, cucumbers and tomatoes. That way, she gets some protein and at least a few fresh vegetables without a trip to the grocery store, where inflation…

Colorado’s auto insurance rates among highest-rising in country

Kyle Shirley put off a marketing plan for his roofing company after insurance premiums for his work trucks shot up 55%. Becky Brinkerhoff’s insurance bill has doubled and she is checking with other companies for a better deal. Stephanie Rankin will likely reduce the coverage on one of her vehicles to help cover the 44% increase in her insurance rates. The three Denver-area residents are among Coloradans reeling from rising auto insurance costs on top of higher grocery bills and other expenses. The insurance rates are…

Actually, Bitcoin Didn’t Hit an All-Time High If You Adjust for Inflation

The crypto community took a victory lap Tuesday with the news that the price of Bitcoin hit an all-time high of $69,210. Those celebrations cooled when the value dropped a full 8% just a few hours later, but it marked a stunning recovery from the crypto crash of 2022. For the fans, Bitcoin’s rally was evidence that cryptocurrency is a good investment after all. There’s just one problem: adjusted for inflation, Bitcoin is actually worth less than it was three years ago. He Tossed His Bitcoin, Now He Wants It BackLet’s do…

Inflation vs. deflation: Retailers fear falling prices

A man with a paper bag of groceries looks surprised and upset at a receipt from a supermarket with high prices against the background of an escalator with customers in the shopping center. Elena Perova | Istock | Getty ImagesJust ahead of the holiday season, Walmart had encouraging news for inflation-weary shoppers: Prices on food and other staples were falling instead of rising. The retail giant said if the trend continued, it would soon contend with deflation in some of those key household categories, which would be a…

Nestle Warns on Sales Growth as Inflation Continues to Bite

Nestle reported full-year earnings and sales that were just shy of expectations, and cautioned that sales growth will moderate this year as higher prices force shoppers to ease spending. Nestle reported full-year earnings and sales that were just shy of expectations, and cautioned that sales growth will moderate this year as higher prices force shoppers to ease spending. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s…