By Modupe Gbadeyanka

A report by FSDH Securities Limited has disclosed that the November 2016 inflation rate (year-on-year) to increase further to 18.45 percent from 18.33 percent it recorded in the month of October 2016.

According to the report, the expected increase in the inflation rate will be driven by higher prices within the Food and Non-Alcoholic Beverages division, as well as the depreciation in the foreign exchange rate during the month.

The National Bureau of Statistics (NBS) is expected to release the inflation rate for the month of November 2016 on December 15, 2016 based on the data calendar on its website.

The Food Price Index (FPI) released today by the Food and Agriculture Organization (FAO) shows that the FPI trended downward in November.

The Index was down by 0.43 percent, compared with the revised October figure.

The FPI’s easing in November 2016 was driven by a sharp fall in sugar prices, which was more than enough to offset a rebound in the prices of vegetable oils. The FAO Sugar Index fell by 8.93%, the first decline after six consecutive months of increase.

According to FSDH Securities Limited, the weakening Brazilian currency against the US Dollar coupled with reports of a higher harvest in the Central South, Brazil’s main producing region put downward pressure on prices.

The FAO Cereal Price Index declined by 0.60 percent, mainly due to the decrease in the prices of wheat and rice.

The FAO Meat Price Index was down by 0.21 percent, almost unchanged from its revised value for October.

On the flip side, the FAO Dairy Index appreciated by 1.95% from October, as prices of whole milk powder and butter firmed up.

The FAO Vegetable Oil Price Index appreciated by 4.55 percent, marking the highest level since August 2014.

The strong rebound was primarily driven by the price of palm oil on the heels of lower than anticipated production in Southeast Asia.

FSDH Securities Limited disclosed that its analysis indicates that the value of the Naira appreciated at the inter-bank market while it depreciated at the parallel market by 2.09 percent to close at $/N478 from $/N468 at the end of October.

The depreciation at the parallel market led to an increase in the prices of imported consumer goods in Nigeria between the two months under review. The prices of food items that FSDH Research monitored in November 2016 moved in varying directions.

The prices of palm oil, Irish potatoes, meat and rice were up by 32.17 percent, 10.78 percent, 2.56 percent and 1.99 percent. While the prices of tomatoes and onions were down by 17.89 percent and 2.78 percent. The prices of garri, yam, beans, sweet potatoes and vegetable oil remained unchanged.

The movement in the prices of food items during the month resulted in a 0.7 percent increase in our Food and Non-Alcoholic Index to 214.41 points.

The report further said it noticed increases in Clothing and Footwear; Housing, Water, Electricity, Gas & Other Fuels divisions between October and November 2016.

“Our model indicates that the price movements in the consumer goods and services in November 2016 would increase the Composite Consumer Price Index (CCPI) to 211.28 points, representing a month-on-month increase of 0.76 percent,” it said, adding that it estimates that the increase in the CCPI in November will produce an inflation rate of 18.45 percent.

http://www.businesspost.ng/2016/12/08/nigerias-november-inflation-rate-hit-18-45-report/

Let us clap for the present administration and those who voted them into positions that are obviously bigger than their abilities.

The poster below me. Ur matter z strong oooo

Even if Vuhari is the president of US his will still drag them into reccession

And to think that some mo.rons foistered this buff.oon on us is really alarming cc Obasanjo, Soyinka, two old men who have grown dull and daft with increasing age.
Then we talk of Mbaka, a priest wannabe who made more noise than a broken record but has now quietly slithered into his winter hole like the snake that he is.
Let's not also forget the our friends here-in, the ones who deserve so much pity, who wouldn't mind defending and clinging onto Buhari, even when it's glaring that the man has failed. Coming down from their high horse is more difficult than breathing.
Sarrki , Progressive01, dropshit , Dropshot, Passingshot, Omenka, Ngeneukwenu, them plenty jor, no time for worthless mentions, nde woo, jisike, I dey greet all of una.
Ps: Anyone who comes on here to tell me say them no dey abuse elders or pastors for their place is a m.or.on already, gba be. "Them no dey do padi for jungle"

Buhari is a failed person . He couldn't solve his personal economic problems, but Nigerians expected him to solve the country's economic problems. You can't give what you don't have.

My only pain is that I did not vote for this presi_idiot

Buhari oh. Buhari.
Resign already before Nigerians start praying the Abacha prayer on your head.

The inflation rate in Nigeria is getting out of hand..

What do you expect from voting a president with no formal education.

Unfortunately nigerians have 3 more years to endure their mistakes

Goodluck with that

Bubu At Work
He and his team of incompetent fools should Keep doing trial and error with our lives and economy

Buhari is fast asleep. I am still wondering why this man can't just throw in the towel and bow out. What is in this power that they strive to hold on to even when they are clueless?...jeeeze

The prices of palm oil, Irish potatoes, meat and rice were up by 32.17 percent, 10.78 percent, 2.56 percent and 1.99 percent. While the prices of tomatoes and onions were down by 17.89 percent and 2.78 percent. The prices of garri, yam, beans, sweet potatoes and vegetable oil remained unchanged]

Liars! They are just confusing us with figures.
But the reality is One candlestick is 40 naira.
One egg is 40 naira
A gallon of water is 70 naira
A bottle of Pepsi is 80 naira.
I don't want to talk about maggi, fish.
Meat, oil, gas, crayfish vegetables, fruits.
And the rest.

A derica of rice is 350 naira
A small paint bucket of garri is 650 naira
Beans nko? Ewaaaaa
Everything has gone up!!!


Nobody is talking.

Where is Mbaka and TB Joshua
Where is Tunde Bakare and Oritsejafor
Where are our god of men?
Where are they?

They will not talk
They have lost their tongues

God punish all of you that
Gave us Buhari.

Special thanks to Mallam Muhammadu Recession Buhari




Dullard of the first Order

Those WORDS always come to mind!

.

GEJ, we are indeed sorry!
May God continue to bless and keep you!

maberry:
Bubu At Work
He and his team of incompetent fools should Keep doing trial and error with our lives and economy

ragiluhivo:
What do you expect from voting a president with no formal education.
Unfortunately nigerians have 3 more years to endure their mistakes
Goodluck with that

PapaBrowne:
Buhari oh. Buhari.
Resign already before Nigerians start praying the Abacus prayer on your head.

APC party without Vision !

buhari stupidly foolish.......somebody DAT can't take care of 150 cows to produce how can he manage humans...
Dan Buro uba

R

November has ended before the report came out. is st posthumous

Still watching in 3D... Which way Nigeria?

Buhari it won't be well with u.

Me wen de eat fine, now I de find food and work to do.
lost all I had because of the policy of this govt through to their stupid act

This govt is not favouring is citizens

I fact the kind of crisis that will loom in this country will be strong even me go join am

The prices of palm oil, Irish potatoes, meat and rice were up by 32.17 percent, 10.78 percent, 2.56 percent and 1.99 percent. While the prices of tomatoes and onions were down by 17.89 percent and 2.78 percent. The prices of garri, yam, beans, sweet potatoes and vegetable oil remained unchanged.

Just take a look, essential food stuffs which the government made the most noise about are the ones that increased in price , abi na only for export them they produce these stuffs?
And to think that the prices would shatter the roof in the usual December frenzy makes me SMH for this country. The inflation rate is sure to cross the 20% mark

me i am not understanding all dese grammar.... garr

It's now two years

Buhari Remains the worst President in Africa

*Reminder*

Buhari : my government will pay unemployed Nigerians
5k every month.
People be like: sai Baba... change is
here..Nigeria will rise again! .

Buhari: I never promised to pay unemployed Nigerians
5k each month. .
People be like: No mind those Jonathanians. With their
fake news. Show us links where he promised that. We
are solidly behind you. Nothing for yam eaters .

Buhari : We have started collection of data to enable us
pay the unemployed graduates 5k. .
People be like : Where are those TANoids that said
Baba is not a promise keeper...shame on all PDP.
Baba till 2023 ! .

Buhari: I wont pay 5k to unemployed youths. Its not a
priority ! .
People be like: Baba is right! Whats the use of 5k?
What can 5k do to anyone. Mr president we love u.
Best president ever! .
I wont be surprised if I wake up tomorrow and hear : .

Buhari: Unemployed Nigerians should pay 5k every
month to the government: .
And still people be like: Think of what u can do for your
country and not what your country can do for you.
Baba is right. But I know those unpatriotic wailers
wont pay

. I don't think this is ordinary.Not at all.

lies. inflation rate should be 45%.

ednut1:
lies. inflation rate should be 45%.

.Lol. Something dey worry you