Cost of goods and services in Nigeria continue to moderate in June following the surge in forex liquidity in the country.

The consumer prices which measures inflation rose 16.10 percent year-on-year in June, according to the National Bureau of Statistics report released on Monday. This was 0.15 percent lower than the 16.25 percent recorded in May. Indicating that the continuous gain of the Naira and sustained forex intervention by the Central Bank of Nigeria has continued to cool prices and broaden improvement across key industries.

On a monthly basis, inflation rate increased by 1.58 percent in June, down 0.30 percent from 1.88 percent gain recorded in May. So far, month-on-month inflation has cumulatively risen by 9.28 percent since January.

However, prices of food remain high, rising 19.91 percent in June, up 0.64 percent from 19.27 percent recorded in May. Suggesting continued pressure in food prices.

Since the launched of Investors and Exporters forex window in April, the economy has witnessed a surge in capital importation with the Nigerian equities market alone attracting N2.715 trillion in investments.

This has helped improve forex availability in the country and aid the Naira’s value against the US dollar.

However, some experts have said if OPEC go ahead to request a production cap from Nigeria as widely suggested, the ongoing forex intervention would suffer and so would progress record thus far.

“Production cut would hurt current progress,” said Samed Olukoya, a foreign exchange research analyst at Investors King Ltd. It is unclear if the surge in production level recorded in June can be sustained going forward or a one-time time, therefore, it would be premature to cap production based on a single month data.”

http://investorsking.com/inflation-continues-to-cool-in-june/ mynd44

na increase in these goods pain my pass

postinor 2

fantasy condom, gold circle condom and fiesta condom

peanut burger - those company are son of the devil, 70 percent air and 30% peanut in the nylon and still dem still dey sell am 100 naira

We don pass June now

WOW

ALHAMDULILAI

Since we are now in July...am out.

Keep on cooling.

femi4:
We don pass June now

na july wey never finish report them suppose broadcast?

Abeg who notice the said drop in inflation in June? cos over here na still same price we they pay for goods and services that's if the price no reduce...... small indomie na still #55 a bowl of garri is still #300

We shall get there

When will Nigerians stop suffering! When the leaders and some people of Nigeria realize that if Nigeria is good it is for all of us. This is more than common sense.

I no believe, not until one plastic paint of garri drop down to 400.

we are waiting for $1 to equal 200naira at least

NAIRALANDERS IS IT TRUE?!!!

Okay

One of the reasons why I don't tune state owned media channels.
What you hear is not what it is in reality.

Heard pmb has been smuggled back to the villa...... how true?

Yet the price of commodity has refused to come down... Economy is only improving on paper and not in real life.

pagorino:
I no believe, not until one plastic paint of garri drop down to 400.

garri won't come down ,prepare for the worst because casava is being exported now

femi4:
We don pass June now

When u no get calender for you house or calender app for your phone

How you go know

Deseo:
Keep on cooling.

When u go use your money buy am

Which kind tormenting stew be dis for this kind Sai Baba regime. Abeg PM your address make I come chop

Deseo:
Keep on cooling.

Because Baba is unavailable to pick the economy's call

I am not referring to TuBaba but Baba Muhammadu Buhari

holatin:
na increase in these goods pain my pass

postinor 2

fantasy condom, gold circle condom and fiesta condom

peanut burger - those company are son of the devil, 70 percent air and 30% peanut in the nylon and still dem still dey sell am 100 naira

repent

Enof of ds propaganda nd paper work,let ds translate 2 reality.price of stuffs stil soaring.let nt b deceived,we need God nt ds ones disguising 2 b saint

Buhari and APC biggest disasters to happen to Nigeria

And they keep on moving out our yams


https://www.youtube.com/watch?v=Lwpz7IRKBLU

Someone rightly asked if Gej sacrificed an elephant to maintain single digit inflation figures (8.5%) during his tenure. Now APC demons are telling us to celebrate 16%. Waka shege to the terrorists

falconey:
na july wey never finish report them suppose broadcast?

After 17days into another month?
The report is stale

GeneralOjukwu:
WTF?

I keep seeing a reduction in inflation in newspapers.

Ngozi, the neighbourhood spermbank still charges N5000 for each deposit and double for wheelbarrow style

$$$ never crash?

Report to the HQ at Allen Avenue, an old experienced bank officer would be assigned to you. I would be save one and get one free