The International Monetary Fund on Friday said Nigeria’s inflation, which has been declining for more than a year, would increase in the second half of the year.

The IMF stated this in an emailed statement after a team led by the Senior Resident Representative and Mission Chief for Nigeria, Amine Mati, visited the country from June 27 to July 9 to discuss recent economic and financial developments, update macroeconomic projections, and review reform implementation.

The nation’s inflation rate dropped for the 16th consecutive month to 11.61 per cent in May from 13.34 per cent in April, according to the National Bureau of Statistics.

“Nigeria’s inflation would pick up in the second half of 2018 as base effects dissipate and higher spending and supply constraints in agriculture put pressure on prices,” Mati said.

Read more:
Nigeria’s inflation’ll rise in second half – IMF http://www.sanwomi.com/2018/07/nigerias-inflationll-rise-in-second.html


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