ypzilanti: On a serious note sha. Any serious student of economics knows that there is an inverse relationship between unemployment and inflation. Given CBNs harsh monetary policies that discourage lending, it is not surprising that inflation is down and unemployment UP.

vanstanzy: Am sorry to ask, but do they mean it dropped from 7.6 percent to 8.6 percent? Cos

that's funny arithmetic to me! Just last year, they reported that inflation dropped by

7.5, 7.6 percent, lowest in 5 years and, now this? And i had half though it rose by 1.0percent.

You are getting to understand this voodoo economics stuff, me I am still learning but I am not A LEARNER.

billante: Inflation rate in the country dropped to 8.6 per cent in March , the lowest in almost five years as the impact of higher fuel prices a year ago fell out of the calculation.
According to the National Bureau of Statistics (NBS), inflation eased to 8.6 percent from 9.5 percent in February. Prices rose 0.7 percent in the month.
The Central Bank of Nigeria (CBN) has kept its benchmark policy rate at a record 12 percent for nine consecutive meetings to keep prices incheck and bolster the naira. The inflation rate has been below 10 percent, matching the central bank’s target, for three consecutive months.
Inflation will probably remain between 9 and 11 percent this year, central bank Governor Lamido Sanusi said on March 24. While Sanusi said he supports keeping the benchmark rate unchanged, more of the 12 members of the Monetary Policy Committee are pushing for rate cuts. Three MPC members voted for a reduction in the March 19 meeting, up from two in January.
The MPC will probably keep its key rate unchanged at its next meeting on May 21-22, Johannesburg-based Absa Group Ltd. (ASA) said in an e-mailed note to clients before today’s data.
The core inflation rate, which excludes agricultural products, rose 7.2 percent in Marchfrom a year earlier, down from 11.2 percent in February, the statistics office said. Food inflation eased to 9.5 percent from 11 percent


http://businessdaynigeria.com/inflation-drops-86-percent-lowest-5-years

tomakint:
You are indeed a human-demon and pathological LIAR as usual, a bag of rice hovers between N8,500 to N9,200 while a kongo of Garri still goes for N120 and even N100 in some places, you only need 'two Giant HORNS and a long TAIL' to complete your demonic nature online

mrjingles: When inflation drops it DOES NOT mean prices drop. It means prices increase at a SLOWER RATE, as a rough example, 10% inflation rate means the GENERAL PRICE LEVEL increases from say 100 to 110 (this is calculated for a representative GROUP of commodities) some individual goods may experience higher than or lower than 10% so if the rate drops to 8% it does not mean prices drop from 110 but it means the level INCREASES by 8% instead of 10%. The benefit is that interest rates generally drop and this encourages demand for credit, boosts investment and creates jobs, it also helps stabilize the exchange rate. Its generally a dynamic balancing act. Prices APPEAR to remain static in some economies because they have very low rates of inflation of about 1.5-3%

What most of us are wishing for is DEFLATION which is a deadly thing to any economy, Japan had long period of deflation and that has almost crippled the export industry and the economy has stagnated with interest rates at 0% demand refused to increase. They Bank of Japan is now trying to devalue the yen in order to make Japanese exports cheaper to jumpstart the economy. Lets not lose sight of the fundamental issues please.

Okay, I get it, things are getting harder for people at a slower rate.

Is it that we should congratulate them for? SMH.

porka:

What's value of the discount?

Abrantie:

Big grammar, jargons and plenty decimal numbers which the average Nigerian doesn't understand or explains why he/she can't have electricy to chill his/her pure water.

ballabriggs: It is not about inflation dropping, it is about what are the implications.

The ability to analyse and say what the implications are is what differentiates a layman from an economist.

I can inflate a macroeconomy and it will be beneficial, I can also tighten and it creates a "balloon effect". The East Asians experienced high growth even with a double digit inflation rate in the 1990s. How do you explain that?

It is not a science, there is no definite answer.

mrjingles: When inflation drops it DOES NOT mean prices drop. It means prices increase at a SLOWER RATE, as a rough example, 10% inflation rate means the GENERAL PRICE LEVEL increases from say 100 to 110 (this is calculated for a representative GROUP of commodities) some individual goods may experience higher than or lower than 10% so if the rate drops to 8% it does not mean prices drop from 110 but it means the level INCREASES by 8% instead of 10%. The benefit is that interest rates generally drop and this encourages demand for credit, boosts investment and creates jobs, it also helps stabilize the exchange rate. Its generally a dynamic balancing act. Prices APPEAR to remain static in some economies because they have very low rates of inflation of about 1.5-3%

What most of us are wishing for is DEFLATION which is a deadly thing to any economy, Japan had long period of deflation and that has almost crippled the export industry and the economy has stagnated with interest rates at 0% demand refused to increase. They Bank of Japan is now trying to devalue the yen in order to make Japanese exports cheaper to jumpstart the economy. Lets not lose sight of the fundamental issues please.

Omo_Tier1:
Like seriously? Huh?...Are you for real The madness of 1st January 2012, has the dust settled down still in the economy? So you want to tell me transportation has not gone up by more than 9%? Are you for real at all?

billante: Inflation rate in the country dropped to 8.6 per cent in March , the lowest in almost five years as the impact of higher fuel prices a year ago fell out of the calculation.
According to the National Bureau of Statistics (NBS), inflation eased to 8.6 percent from 9.5 percent in February. Prices rose 0.7 percent in the month.

mazado:
Bros, you make sense abeg, even though i no understand am finish.

Frank-C:


You are wrong, as usual. There is nothing like 'the price of 50kg is x or y'. It depends on quality and type. And for your garri price, white garri has never been the same price as yellow garri which is not also same as the price of Ijebu garri.

You are just caught up in negativity, trying very hard to downplay any and every positive news coming out of Nigeria while emphasizing the negative ones. I know GEJ's success threatens people like you and your political association, but hey, it benefits Nigerians which is what really matters.

It is a big deal that we are on a single digit inflation rate. It is a big deal that we are still improving. It is also a big deal that we have positive economic indices everywhere against the cry by Lie Mohammed that the economy is on the verge of collapse.

This whole thing does not make sense. We must learn to respect the truth if we want to go forward in this country. From which market was this survey conducted? Certainly not the same market the masses are using. There should be a limit to official deceit but this country doesn't seem to have any. Inflation rate in Nigeria has never been on the decline but it went even higher after the floods of last year. Any statistics contrary to this fact is arrant nonsense.

The investing community is watching. The global watchers are on the lookout. Things are looking good on the economic side of things. These indices that we are seeing can only come from an environment of fiscal discipline, mature budgeting system and successful FG policies. They can never come from a 'corrupt, clueless and incompetent' leadership as ACN people want us to believe GEJ's team to be.

The figures are coming out and they are running around the place telling us the price of 'rice' as if the price of 'Abakaliki rice' or 'elephant rice' has always been same as the price of 'mama gold'

boron10:
It is folly to use the increase in price of just two commodities to debunk the overall claim. Have you tried to observe the prices of goods and services in other sectors?

We should atleast be happy that Good news is coming from Nigeria.

Frank-C:


You are wrong, as usual. There is nothing like 'the price of 50kg is x or y'. It depends on quality and type. And for your garri price, white garri has never been the same price as yellow garri which is not also same as the price of Ijebu garri.

You are just caught up in negativity, trying very hard to downplay any and every positive news coming out of Nigeria while emphasizing the negative ones. I know GEJ's success threatens people like you and your political association, but hey, it benefits Nigerians which is what really matters.

It is a big deal that we are on a single digit inflation rate. It is a big deal that we are still improving. It is also a big deal that we have positive economic indices everywhere against the cry by Lie Mohammed that the economy is on the verge of collapse.

This whole thing does not make sense. We must learn to respect the truth if we want to go forward in this country. From which market was this survey conducted? Certainly not the same market the masses are using. There should be a limit to official deceit but this country doesn't seem to have any. Inflation rate in Nigeria has never been on the decline but it went even higher after the floods of last year. Any statistics contrary to this fact is arrant nonsense.

The investing community is watching. The global watchers are on the lookout. Things are looking good on the economic side of things. These indices that we are seeing can only come from an environment of fiscal discipline, mature budgeting system and successful FG policies. They can never come from a 'corrupt, clueless and incompetent' leadership as ACN people want us to believe GEJ's team to be.

The figures are coming out and they are running around the place telling us the price of 'rice' as if the price of 'Abakaliki rice' or 'elephant rice' has always been same as the price of 'mama gold'