The cost of living in Nigeria rose less than forecast in December, following a series of measure put in place by the central bank to moderate the persistent rise in prices of imported goods in the country.

The consumer price index which measures inflation rose from 18.48 percent in November to 18.55 percent in December, the National Bureau of Statistics reported on Friday.

According to the report, the surge in the price of electricity, housing, water, clothing, footwear and education, slightly increase the index by 0.07 percent.

It reads in part, “During the month, the highest increases were seen in housing, water, electricity, gas and other fuels, clothing and footwear, and education.”

“Communication and restaurants and hotels recorded the slowest pace of growth in December, growing at 5.33 per cent and 8.91 per cent (year-on-year) respectively.

On a critical look into the details of the report, the inflation rate appears cooling in recent months, when compared with the rate of increase in the early months of 2016.

For instance, costs rose 0.48 percent in October, surged 0.15 percent in November and increased by 0.07 percent in December. This shows the rate of increase is declining and likely to continue going forward, especially if the CBN fulfilled its promise of prioritising foreign exchange allocation to manufacturers in the first quarter of 2017.

However, analysts at Investors King Ltd., are optimistic that inflation rate will start declining in the first quarter of the year as the increase in business confidence due to OPEC successful consensus is likely to renew investment rush and attract enough capital importation needed to offset current forex deficit.

http://investorsking.com/nigerias-inflation-rate-rises-less-than-forecast/

https://www.youtube.com/watch?v=77zth5Tsjgo

2016 Review of Nigerian Economy

Buhari is a failure...shame Baba! Mobilize your constituency against buhari come 2019

klbakare:
Buhari is a failure...shame Baba! Mobilize your constituency against buhari come 2019

here in the north, we will mobilise our constituency to vote en mass for PMB.

klbakare:
Buhari is a failure...shame Baba! Mobilize your constituency against buhari come 2019

Even when the Buhari govt clearly reduced the impending hardship as clearly reported you still show your bigotry for all to see. Keep it up, it won't change a damn thing for candidate-less region and party.

Sibrah:
Even when the Buhari govt clearly reduced the impending hardship as clearly reported you still show your bigotry for all to see. Keep it up, it won't change a damn thing for candidate-less region and party.

zombieooooo

kerosene is now diamond
naira is dead
grass cutting is now a multi million naira industry

Make una dey lie. A paint bucket of garri has risen from N300 to N900. A ragolis bottle of red oil is now N1,600 from N400.

Kerosine is now N400, from an average of N120, yet someone is living in another planet with fake statistics.

It will take leader without ethnoreligious bigotry and sagacity to bring us out of this economic ditch.

This leader could be you. Join the New Nigeria Vanguard for a great new Nigeria.

Even goat will defeat idiotic buharii in free and fair election

The so called hardship is exageerated by wailers.

rozayx5:


zombieooooo

kerosene is now diamond
naira is dead
grass cutting is now a multi million naira industry

Are u forgetting tomatoes was once a diamond too U said naira is dead...has it been anytime naira was alive? If u said grass cutting is a multi million naira business, what are u waiting for?pick ur tools and get to work, who knows grass cutting is ur divine calling..

Aristo3146:
Are u forgetting tomatoes was once a diamond too U said naira is dead...has it been anytime naira was alive If u said grass cutting is a multi million naira business, what are u waiting forpick ur tools and get to work, who knows grass cutting is be ur divine calling..

at bolded shows your still in primary school eating from your mothers pot
aint got your time

Go to the market



Nobody go tell you!

hmuhammad:
here in the north, we will mobilise our constituency to vote en mass for PMB.

are we surprise.... no!

rozayx5:


at bolded shows your still in primary school eating from your mothers pot aint got your time

U dont rush to comment because MTN gave u 10MB on a #100 recharge..

The beauty of democracy is the freedom to air your views contrary to the popular held views.

hmuhammad:
here in the north, we will mobilise our constituency to vote en mass for PMB.

sorry bro,not in the north i know.

Lies. Price of commodities is rising every day.

AfonjasMustDie:
I pray that the economy keeps getting worse

I pray that $1 exchanges for 900 naira before next month

I pray that things get more worse

I pray that Buhari rules Nigeria for 100 years

And what will be your gain if all the aforementioned prophesies come to pass ?

maxtop:


And what will be your gain if all the aforementioned prophesies come to pass ?

I will be very happy to see people suffer for the bad choices they made by voting for buhari

Even in the current hardship status of this country,.some born. Fools are of the thought that their region are in support of Buhari's Administration..I therefore pray that your homes and generations both born and unborn will remain as the way this Govt of Buhari has kept you Amen

funny enough they forgot to mention that the this is the highest level of inflation in the history of Nigeria.

Buhari really tried ooo! ahh, we thank him for all his posters and everything in his campaign and even his precious time he took to be our president.
But gaskiya we do again ooo! its ok like that. we thank am oo, but make hin dy go, all the things him wish us we am back. Baba pls pack and go u do us well u hear

Sibrah:
Even when the Buhari govt clearly reduced the impending hardship as clearly reported you still show your bigotry for all to see. Keep it up, it won't change a damn thing for candidate-less region and party.

So not voting for GMB is bigotry? Go find rice eat first then we talk about dictionary meaning of bigotry.

The rise reduced in December because CBN forced people not to spend by making money unavailable.

It is similar to rationing.

So what's the big deal..

Inflation still rose

abouzaid:
sorry bro,not in the north i know.

then you don't know north

Aristo3146:
Are u forgetting tomatoes was once a diamond too U said naira is dead...has it been anytime naira was alive? If u said grass cutting is a multi million naira business, what are u waiting for?pick ur tools and get to work, who knows grass cutting is ur divine calling..