this has just confirm the double economic system in Nigeria.:-

(1) the one for the elites (big big men; politicians; cabals etc)--- these are the ones whose inflation rate has fallen to 9%. they are d ones that talk to the world on behalf of the masses; they are the one that CBN used to calculate their GDP

(2) the one for the masses ( the average Nigerians over 99.9% of the population)----> these group has never seen inflation gone down in their lives before; or have u seen the price of garri modue gone down b4?? or have u seen the no. of unemployment decreased b4?

Does government have any plan or strategy to stimulate this economy? Why wont price levels fall when people are hardly buying? This is not due to any new efficiency in the system but just due to panic selling due to very low purchasing power. Basic.

Don't really understand much of this Economics jargon but does this mean that the purchasing power has increased?

::Andrew:::

i dey tells u.u wosky o.bend down low

::Andrew:::

i dey tells u.u wosky o.bend down low

strange country on strange land.

Adanyebe: 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

In Aso rock?

The sheer ignorance being displayed in this forum would have been comical if it weren't so pathetic.

What is inflation? It is the percentage increase in the general price level. When the NBS says that inflation has fallen to 9%, they're simply saying that prices are rising AT A LOWER RATE than before. They're not saying that prices are falling.

Choi!!!

I normally make use of such index for investment decision, any business am investing must be above the inflation rate plus profit.

I recently went to a bank to fix some money and were giving me one ridiculous rate as interest to cut the long story short I ended up giving investment lecture to the bankers on the use of inflation rate while investing any money.

Any money being deposited in a fixed account should be above inflation rate if not you will definitely lose money because of inflation and time value of money. Assuming you want to invest 1 million naira if inflation is 9% demand for 9%+WHT(10%)+profit.

Cheers

Inflation rate did not fall to 9% we should stop spreading this propaganda. Average inflation rate still remains at 11.9 percent. What they are referring to as "9%" is the "rate of change from the month of Jan 2013 as against the month Jan 2012".There is no "real improvement" in Inflation in Nigeria. Economists & statisticians will understand this better.

As soon as one "Jankara" Financial Services House sent this report in their weekly bulletins, I knew something was fishy about their report and it was only a matter of time before the ignorant public latched onto it, for & against.

The report that published this is mischievous and misleading. My only problem is whether it was deliberate (which makes you wonder who sponsored it) or not (in which case smacks gross incompetence. I worry for the kind of financial advice they give to their clients)

Reduced on paper u mean??

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

wen inflation reduces(as price falls), I belive supply iS greater dan demand.which is as a result of increase in production. Such increase is expected wen the employment and interest rate is favourable.av nt seen anytin near this basic economics. FG....wia did u get ur statistics?

HNosegbe: The sheer ignorance being displayed in this forum would have been comical if it weren't so pathetic.

What is inflation? It is the percentage increase in the general price level. When the NBS says that inflation has fallen to 9%, they're simply saying that prices are rising AT A LOWER RATE than before. They're not saying that prices are falling.

Choi!!!

So.. Thanks for the clarification sha ... What about GDP growth they forecasted? Don't blame Nigerians for UNDERSTANDING and subsequent bashing of these lies-filled government agencies and advisers ..

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

general increase in price of goods and service.

Dee60: Does government have any plan or strategy to stimulate this economy? Why wont price levels fall when people are hardly buying? This is not due to any new efficiency in the system but just due to panic selling due to very low purchasing power. Basic.

See, there are alot of fooolish comments here, born out of Real Ignorance, but yrs tk d cake. Hands down....abeg, where were u when yr mates were going to dem Secondary skuls??

What they are simply telling us is that there is still inflation (prices of goods are still going up),but the rate at which they go up have only dropped or slowed down to 9%.

So, it is some kind of good news.

Prices will still go up, a few more people will just be able to keep up with it.

Wow! The level of education on this forum is so wack. Alright let me break it down in terms that will benefit your bank account. If you've got extra cash then throw it into the stock market, cos now is the best time to get in cos yields from bonds, and other financial instruments are poor, and eyes are now on the NSE.

taharqa: See, there are alot of fooolish comments born out of Real Ignorance here, but yrs tk d cake. Hands down....abeg, where were u when yr mates were going to dem Secondary skuls??

U got me cracking real hard with laughter. No correlation in the dumbass post at all.

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

. While use Jesus for a joke on what u dont know about?

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

LOL very funny. Meanwhile, MODs naijacutee and FOD, may god punish your parents heavily for banning me from posting in this section. Una mama and pikin no well u hear. IGIOTS

Am everywhere and unbannable. Ban me and ur first child will fall sick throughout the period of my ban.

HNosegbe: The sheer ignorance being displayed in this forum would have been comical if it weren't so pathetic.

What is inflation? It is the percentage increase in the general price level. When the NBS says that inflation has fallen to 9%, they're simply saying that prices are rising AT A LOWER RATE than before. They're not saying that prices are falling.

Choi!!!

guy, thank you... I have been reading d comment made here and I had wondered how nairaland had come to amass this huge numba of nitwits.

why are folks even analyzing this useless number? Once in a while this incompetent govt and their goons throw out numbers just for the heck of it. And to

Fact is the price of petrol, diesel, garri, rice, okada fare, bread (cassava & wheat), ponmo, dried fish, tomato etc is still rising. So what are we talking about here?

GEJ is just polluting this country with toxic fumes.

ocman: so should we cry or laugh?

none of the above. Go and hug transformer

but when they say inflation has risen, these same people will believe and begin to talk crap economic theories, but because they say its fallen, they find it hard to believe.

Adura_ngba: but when they say inflation has risen, these same people will believe and begin to talk crap economic theories, but because they say its fallen, they find it hard to believe.

My sister we claim to know so much but we know so little. I have laughed heavily because of some of the comments here, and tomorrow we will be the first to blame government when majority of nigerian youths do not understand something as simple as inflation why won't politicians take us for a ride.
@ topic, its a good development, I pray it drops more so that interest rates on loans will also drop too.

It can as well "fall" to 0%. Govt agencies must spare us all those jargons. To the common man on the Nigerian street things aint getting any better.

greaterlove:
My sister we claim to know so much but we know so little. I have laughed heavily because of some of the comments here, and tomorrow we will be the first to blame government when majority of nigerian youths do not understand something as simple as inflation why won't politicians take us for a ride.
@ topic, its a good development, I pray it drops more so that interest rates on loans will also drop too.

It's simply the pulse of the people. Usually after these figures, the overall outcome of their efforts' still negative.