UPDATE 1-Nigerian inflation rises to 18.3 percent in October
By Alexis Akwagyiram

Nov 14 (Reuters) - Annual inflation in Nigeria accelerated in October to 18.3 percent, the National Bureau of Statistics said on Monday, its highest in more than 11 years and the ninth straight monthly rise, in another sign of the crisis in Africa's biggest economy.

The rise from 17.9 percent in September reflected higher prices for electricity, clothing and food, a separate index for which rose to 17.1 percent from September's 16.6 percent, the statistics office said.

"During the month, the highest increases were seen in housing, water, electricity, gas and other fuels," the statistics bureau said in a statement.
Nigeria, an OPEC member and Africa's most populous nation, has seen its economy fall into recession for the first time in 25 years.
In October, the statistics office revised its forecast for year-end inflation, estimating that the index would end at 17.1 percent to 18 percent, up from its forecast of 9 percent at the start of the year.

fallout87:
The country will continue to fall apart and these fools will continue to blame GEJ.

Obama turned a recession into production within a year. Buhari turned the best economy in Africa to a recession and blames past leaders instead of himself for outdated fiscal and economic policies.

LadyExcellency:
The actual is not less than 50%.


Commodities and Food items that were N1000 in February, 2016 are now N1800 to N2200


Garri that cost N350 in January is N600 to N700 today. Even Potatoes are not left out. Salads are no longer affordable. Youths now eat without meat. The lower class that used to fill their belly with pap and beans in fast food joints can no longer afford them, they now eat once or twice a day with 50cl Pepsi or Coke and N120 bread which together go for N200.

Soap and toothpaste are no longer affordable to the poor at the moment neither is Wines and Drinks to the middle-class.

Yet, there is no inflation in Salaries and Wages.

ZKOSOSO:
We are getting there.......na small small my people.....!!

Destination.......... Zimbabwe........

God Help Us....

splenzard:
we still have about 3 years before this administration ends.

I fear for the future..

I fear for teeming graduates with no prospects..

I fear for civil servants that are plunged into poverty...

I fear for the children singing they are the leaders of tomorrow when their tomorrow is been filled with debt ..

I fear for the fish vendor who makes 500naira per carton as gain


I fear for Nigeria