By Dipo Olowookere

One of the leading financial consulting firms in Nigeria, FSDH, has predicted a drop in the nation’s inflation rate for the month of January.

In its Inflation Watch report released on Thursday, February 1, 2018, the company said inflation will drop to 15.04 percent from 15.37 percent recorded in December 2017.

“FSDH Research expects the inflation rate (year-on-year) to drop to 15.04 percent in January 2018 from 15.37 percent recorded in the month of December 2017,” the report said.

The National Bureau of Statistics (NBS), according to its calendar, will release the inflation rate for the month of January 2018 on February 14, 2018.

According to FSDH, the expected decline in the inflation rate is as a result of a slower growth in the year on year Food Index in January 2018 than what was recorded in December 2017.

It said the January 2018 monthly Food Price Index (FPI) from the Food and Agriculture Organization (FAO) shows that the Index averaged 169.5 points. The Index was largely unchanged from the December 2017 figure.

The FPI was down by 0.18 percent, from the revised December 2017 figure but almost 3 percent below the corresponding period last year.

The movement in the food prices were in varying directions in January 2018. The cereal and vegetable oil prices appreciated while sugar and dairy prices depreciated.

The FAO Dairy Price Index depreciated by 2.44 percent in January. The prices of dairy products such as cheese and butter depreciated significantly during the period. The FAO Sugar Price Index dropped by 1.49 percent on the heels of favourable supply conditions in the main sugar producing regions in Brazil and increased exports availabilities.

The FAO Meat Index was marginally down by 0.60 percent on the backdrop of weak global import demand for poultry and pig meat.

On the flip side, the FAO Cereal Price Index gained 2.31 percent from the previous month. Wheat, maize and rice prices firmed up and were primarily responsible for the uptick in the value of the Index.

The FAO Vegetable Oil Price Index was up marginally by 0.33 percent, driven by the rise in palm oil prices which outweighed weakening prices for other oils.

“Our analysis indicates that the value of the Naira appreciated in the inter-bank market while it depreciated in the parallel market. The Naira gained 30kobo to close at N305.70/ $ in the interbank market while it lost N1 to close at N364.50/ $ in the parallel market.

“FSDH Research expects the drop in the international prices of food to counter the effect of the depreciation in the Naira in the parallel market.

“Hence, there should be a moderation in the pass-through effect of imported goods on local prices. The prices of most of the food items we monitored in January 2018 moved in varying directions, leading to 0.79 percent increase in our Food and Non-Alcoholic Index. The Food and Non-Alcoholic Index increased by 18.78 percent from 220.41 points in January 2017.

“We also noticed increase in the prices of Transport and Housing, Water, Electricity, Gas & Other Fuels divisions between December 2017 and January 2018.

“We estimate that the increase in the Composite Consumer Price Index (CCPI) in January 2018 would produce an inflation rate of 15.04 percent lower than the 15.37 percent recorded in December 2017,” the report said.

https://www.businesspost.ng/2018/02/02/inflation-drop-15-04-january-slower-food-index-growth-fsdh/

If only Buhari will stop obsessing about oil & gas and start mechanizing farms up north, the inflation can drop further. We need ranches, tractors, barns, silos and not rail to or refinery in Niger Republic.

ok nw

Q

Nice one

.

Thanks

Cristiano Ronaldo in an interview said he was sent to this world by the God of Football to teach the world how to play Football. A few days later, Lionel Messi was asked how he felt about Ronaldo's statement. Messi replied, "I don't remember sending him!"

Economic indices are better measured, not predicted to score cheap political points.

Which January? I beg...

Good

Jabioro:
Which January? I beg...

January 2030

What about rice

NIGERIA NEWSPAPERS: TODAY'S THE PUNCH NEWSPAPER HEADLINES [2ND FEBRUARY , 2018].
Naija Newspapers


Below are the headlines found on The Punch Online Newspaper for today, Friday, 2nd February, 2018.

There is a plan to attack Taraba in 10 days Governor says state buried 63 victims in one day
Fri, 02 Feb 2018
The Governor of Taraba State, Mr. Darius Ishaku, has said there is a plan to attack the state in the next 10 days.

The governor also said the information had been passed to security agencies, adding that he was not aware that any action had been taken.

Ishaku spoke in Jalingo on Thursday when he received members of the National Working Committee of the Peoples Democratic Party who paid him a sympathy visit on the death of a member of the state House of Assembly, Mr. Hosea Ibi.



The governor told the PDP delegation, which was led by the National Chairman of the party, Uche Secondus, that peace had become a scarce commodity in the state.

He said, “When I assumed office, I asked my people to give me peace and that I would give development in return. Peace is elusive in Taraba, but we have development. Here I am as a governor with a crown, but without a sword.

“You call police and security agencies for help, they will tell you they need to clear from Abuja before acting. Before you know it, you have lost 100 people.

“When you call for help, the help takes ages to come. We need to restructure the security architecture of this country. You take one step forward as the governor, the almighty Federal Government takes you back 10 miles.

“The police we have can’t help themselves. In 10 days’ time, we will be attacked. Helicopters dropped arms here at night for hoodlums.


http://www.naijanewspapers.com.ng/2018/02/nigeria-newspapers-todays-punch.html

ok

Pigs ll not like dis news

MY PRESIDENT IS WORKING.....

Let then keep telling themselves what they want to hear, sometimes I wonder what indices they use to calculate their hypothesis

The increase in petrol pump price is enough to drive the price of moveable items upwards or at least sustain the status quo.

The way we celebrate mediocrity here in Africa/Nigeria is mind boggling, see em nairalanders celebrating this news no wonder trump was right

they will not believe this one, but if inflation was going up.....they will f**ck the news and spill their smelly rotten pig cum over the thread

If not for the fuel issue, I think by now food items would have been cheaper.

12submarine:
January 2030

Oh ! Here they comes again..

that is if the price of fuel falls

Desyner:
If only Buhari will stop obsessing about oil & gas and start mechanizing farms up north, the inflation can drop further. We need ranches, tractors, barns, silos and not rail to or refinery in Niger Republic.

If only u will stop wasting time on social media crying that there is no job and get your lazy butt to farming asap!

What effect does it have on the common man?

Dis one na speculation.

If people no see correct changes till 2019, then APC is finished.

Same as the useless 'out of recession' rants that's not evident in the lives of the people.

favourmic:
Cristiano Ronaldo in an interview said he was sent to this world by the God of Football to teach the world how to play Football. A few days later, Lionel Messi was asked how he felt about Ronaldo's statement. Messi replied, "I don't remember sending him!"

You stole.and joke and edited it to try to get likes for an uncreative lionel.messi suck up joke.

Shame on you, you even failed at copying jokes whatelse won't you fail at?

Believe all these propaganda stories at your own risk. Nigerian statistics always flies in face of logical inference. The indices shows that the country experienced fuel price hike and acute shortage since the last quarter of 2017 even up till now and added to the ethnic cleansing going on in the middle belt by fulani terrorists which has made farming impossible in that region, how then did they come about the drop in inflation? Sh!thole country!

"Consulting Firm" bawo ??

News meant for Jan in feb