Nigeria’s Inflation Rate Falls to 9%

Nigeria’s Consumer Price Index fell to 9 per cent in January from 12 per cent in December last year. Data released by the National Bureau of Statistics (NBS), showed a decline in the food price sub-index, which fell to 10.1 from 10.2 per cent in the period under review.

consecutive month of a decline in prices since September 2012, owing to floods and other market forces.

The bureau also expects the economy to expand 6.8 per cent this year while inflation is forecast to average 9.8 per cent this year.

Economists are forecasting a 7.3 per cent growth in 2014, 6.9 per cent in 2015 and 6.6 per cent in 2016.

Meanwhile, this is coming as the World Bank foresees Nigeria’s inflation rate easing to single digit this year and credit expansion to the private sector especially with banks’ recovery.

The bank said inflation may be tamed this year especially if the possibility of flooding is reduced and the price of food drops.

Throughout 2012, the country’s consumer inflation remained in double digits owing to increase in fuel prices, global food prices and the floods which affected crops.


They expect a boost in economic activities and credit expansion to the private sector.
http://naijafreakynews..com/2013/02/nigerias-inflation-rate-falls-to-9-percent.html

Who cares??

Abeg what is the meaning of Inflation Rates, am a learner ooo.

so should we cry or laugh?

Do meaningless statistics "ASHUWALLY" affect the price of garri though?

When pump price of petrol goes down, call me.

*BOOKED*#




























*Space 4 Sale*

I noticed the same thing when I visited CBN website during the course of argument with those South Africans.. Inflation or not doesn't really affect the fact that people do not have that money to spend, let alone feel the impact.

lets leave inflation or 'reflation' the oyibo is to big, how does this relate to the common man?

i think its noticeable in agric produce,
aside this sector, i think inflation is actually on the rise

naijacutee: I wonder if this was noticeable among the general public.

NOT AT ALL

anyone who believe dis can also believe that Jesus Christ just arrive Lagos with british Airways flight from london . Jokers

All these are just theories that exist on NBS papers that can't be manifested or practicalised in the nigerian local market.
There hasn't been any shift in the marginal utility curve of garri and cement in the market in my area.

Now, this is a confirmation that this forum is over-populated by nincompoops.

Scarpon: Abeg what is the meaning of Inflation Rates, am a learner ooo.

oya bend down looow...

Scarpon: Abeg what is the meaning of Inflation Rates, am a learner ooo.

oya bend down looow...

Scarpon: Abeg what is the meaning of Inflation Rates, am a learner ooo.

oya bend down looow...

Billyonaire: Now, this is a confirmation that this forum is over-populated by nincompoops.

funny enough you are a member too ?

A portion of jollof rice still sells for N170 at foodee with no increase in quantity nor quality.so what's the point for improvement not felt by the masses?

Noticed how it affected some product's prices

ItsModella: I can't believe most of the comments on this thread...

i think people understand exactly what inflation is, but when u indeed consider it, they're mere statistical data and completely useless, they just dont have anything to do with the common man. think about it, they claim inflation will be tamed if flood is well controlled, where were they when we had no floods?

I believe that the person who took the record must have been under the influence of alcohol. Which kind of inflation reduced by 9%? I believe that something is wrong with our leaders and people that give them report.

When they want to steal money, they start writing report. Have they gone out there to investigate to find out the real inflation level in our society. Prices of things keep rising every day. Gary, beans, okro soup is no more a common man's food anymore. How come someone will come here to give negative report to the world on the state of things in Nigeria?

As far as I am concerned, there is hunger in the country.

wh

Good news.

Reduce price of fuel jor wetin concern we and inflation ? but wait o [read my signature>

[size=25pt]On papers[/size]

i didn't notice

sanusi alongside his godmother, Okonjo must have a hand in this.

lies after lies

.

everything for naija nah paper dem dey do am. "paper work"

It shouldnt be surprising that the fall in the inflation rate isnt evident to the masses as we dont have accurate data to measure these things. All the data used are based on arbitrary estimates which do not give a true and fair view of the economy. Most of these data are manipulated by the government to make them look good.
Take for instance the issue of NNPC not paying money into the federation account for over 20years and various Auditor Generals have occupied that office without voicing out until now.(Since these guys are appointed by the president, they wont want to voice out at the risk of loosing their jobs since the president sef dey collect im own share of the money).
Or the fact that all money's recovered by the EFCC never return to the federation account as it should but to some unknown account!

yet... things still cost for Benin city here