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Nairaland Forum / Nairaland / General / Business / Nigeria’s Inflation Drops To 11.14% (6822 Views)
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Nigeria’s Inflation Drops To 11.14% by beegodson: 2:18pm On Aug 15, 2018 |
Nigeria’s headline consumer price index extended deceleration (which started in 2017) to the eighteenth consecutive month. Headline inflation was 11.14 percent year on year ( y/y )in July, according to a report released on Wednesday by the National Bureau of Statistics (NBS). The inflation report shows that the July figure moderated from 11.23 percent y/y in June. The data came in 2 bps below Cordros Securities Limited forecast of 11.16 percent y/y and 13 bps ahead of Bloomberg compiled average estimate of 11.01 percent y/y. Meanwhile, on month-on-month basis, the headline index increased by 1.13 percent (vs. 1.24% the previous month) – the first month-on-month decline since February 2018. Food inflation rose by 12.85 percent y/y in the review period, lower than the 12.98 percent y/y recorded in June. “Notably, the highest increase was recorded in the prices of potatoes, yam and other tubers, vegetables, bread and cereals, fish, oils and fat and fruits. On month-on-month basis, food inflation increased at a slower pace of 1.40%, compared to the 1.57% recorded in the previous month”, NBS disclosed. Core inflation was 10.2 percent y/y during the review period, as against 10.4 percent in June. The highest increases were reported in the prices of medical services, carpets and other floor coverings, vehicle spare parts, domestic services and household services, pharmaceutical products, paramedical services, hairdressing saloons and personal grooming establishment, dental services, motor cars and fuels and lubricants for personal transport equipment. On a m/m basis, the core index increased at a slower pace of 0.81 percent, 22 bps below the 1.03 percent reported in June. https://www.thisdaylive.com/index.php/2018/08/15/nigerias-inflation-drops-to-11-14/ 2 Likes 1 Share |
Re: Nigeria’s Inflation Drops To 11.14% by Nobody: 2:20pm On Aug 15, 2018 |
.HOW DOES THIS AFFECT NIGERIANS SINCE A MUDU OF BEANS IS STILL SOLD FOR #500 4 Likes 3 Shares |
Re: Nigeria’s Inflation Drops To 11.14% by iamJ(m): 2:21pm On Aug 15, 2018 |
This is good news but illiterates like 89% of the comments below this wouldn't understand Maybe you should change it to naira is gaining on the dollar so that they can relate, all these plumbers and sales boys on Nairaland forming opinionated 47 Likes 6 Shares |
Re: Nigeria’s Inflation Drops To 11.14% by HypocriticalMod: 2:21pm On Aug 15, 2018 |
Which Nigeria? The same one I'm currently in? Abi there is another one? 3 Likes |
Re: Nigeria’s Inflation Drops To 11.14% by Nobody: 2:21pm On Aug 15, 2018 |
Zoo What they told media to tell them |
Re: Nigeria’s Inflation Drops To 11.14% by Centcanada: 2:21pm On Aug 15, 2018 |
How e take concern self. Make APC go that's all. |
Re: Nigeria’s Inflation Drops To 11.14% by MisterAubrey: 2:22pm On Aug 15, 2018 |
Osinbanjo is working 1 Like |
Re: Nigeria’s Inflation Drops To 11.14% by BruncleZuma: 2:22pm On Aug 15, 2018 |
The benchmark will always be pre-2015 figures...quote me sensibly, ayam not ya age mate mbok. 1 Like |
Re: Nigeria’s Inflation Drops To 11.14% by zakim(m): 2:23pm On Aug 15, 2018 |
Re: Nigeria’s Inflation Drops To 11.14% by Lordofthewest(m): 2:23pm On Aug 15, 2018 |
Ode ezenwajosh: 9 Likes
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Re: Nigeria’s Inflation Drops To 11.14% by nkul: 2:24pm On Aug 15, 2018 |
LIES!! |
Re: Nigeria’s Inflation Drops To 11.14% by bamasite(m): 2:24pm On Aug 15, 2018 |
Custard rubber of beans (iron beans) is #1,800 2 Likes |
Re: Nigeria’s Inflation Drops To 11.14% by Panshow(m): 2:25pm On Aug 15, 2018 |
On paper, inflation can drop to any level. But we all know the reality. 4 Likes 1 Share |
Re: Nigeria’s Inflation Drops To 11.14% by Racoon(m): 2:25pm On Aug 15, 2018 |
Double digit inflation figure Still not good enough besides it does not means an outright improvement on the cost of living or in the over all well being of an average Nigerian. 2 Likes 2 Shares |
Re: Nigeria’s Inflation Drops To 11.14% by bedspread: 2:25pm On Aug 15, 2018 |
Great News.. Inflation should not be Reducing on News and paper and Yet Prices of Rice, Beans and yam are in the Increase.... 3 Likes 2 Shares |
Re: Nigeria’s Inflation Drops To 11.14% by Adakintroy: 2:25pm On Aug 15, 2018 |
Buhari sef. No address. No economic blueprint. No security. No employement. The feeling is almost like a dead calf. Yet he still want a second term. to do what? What is wrong with all this supporters. Are you people brain dead. All the girls in town are technically prostituting. All the boys na 419 or yahoo( which ever you prefer) Yet we are talking a second term. Make una give una selves brain small. 2 Likes 1 Share |
Re: Nigeria’s Inflation Drops To 11.14% by TechW: 2:26pm On Aug 15, 2018 |
Election is coming, different types of news are popping up, anyways, after PDP, APC can come back and by then, buhari would have retired and osibanjo would be the man to defeat. |
Re: Nigeria’s Inflation Drops To 11.14% by massinola(m): 2:26pm On Aug 15, 2018 |
Hmmm |
Re: Nigeria’s Inflation Drops To 11.14% by Nobody: 2:26pm On Aug 15, 2018 |
Dont you just love how Buhari answers his critics? Wailers: Buhari has no economic policy Response : steady decline in inflation over last 12months ; Naira steadly gaining on dollar and other international currencies. Wailers : Buhari does not care about terrorist killings. Response : No more reports to any significant terrorist attacks on civilians for several months and increasing numbers of IDP returning home to their communities. Wailers : corruption war is fake Response : Dasuki, Metuah , Dino and many more still have their cases in court and even loudmouths like FFK has tasted imprisonment for corruption whilst his case was in court. Wailers: Buhari is doing nothing Response : completion of Abuja - Kaduna rail , All major federal road projects previously abandoned now under construction and many completed or nearing completion. Wailers : Buhari is an illiterate Response: creation of npower programme for youths , giving some tablets and freedom to come online and be wailing. 8 Likes 3 Shares |
Re: Nigeria’s Inflation Drops To 11.14% by naijapips04: 2:27pm On Aug 15, 2018 |
APC a complete failure. Inflation statistics over the last 5 years. 1 Like 2 Shares
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Re: Nigeria’s Inflation Drops To 11.14% by Nobody: 2:27pm On Aug 15, 2018 |
nkul:Must be true! People are very happy this days |
Re: Nigeria’s Inflation Drops To 11.14% by AutoSpaNg: 2:28pm On Aug 15, 2018 |
jhgf |
Re: Nigeria’s Inflation Drops To 11.14% by modupe2: 2:29pm On Aug 15, 2018 |
Let me prophesize. Wailer will hate this, they will call it lie 1 Like |
Re: Nigeria’s Inflation Drops To 11.14% by TheAngry1: 2:30pm On Aug 15, 2018 |
Some people are angry now! 1 Like |
Re: Nigeria’s Inflation Drops To 11.14% by FOLYKAZE(m): 2:31pm On Aug 15, 2018 |
Buhari wonders. Keep up the good work sir 1 Like |
Re: Nigeria’s Inflation Drops To 11.14% by semyman: 2:32pm On Aug 15, 2018 |
News analysts on the payroll of looters and the nay sayers will not see any big deal in this, except if it was on the reverse side. Thunder should do its work in their lives this year, Amen 1 Like |
Re: Nigeria’s Inflation Drops To 11.14% by Wiseandtrue(f): 2:39pm On Aug 15, 2018 |
beegodson: Inflation drops only on media! Just dey blow grammar na grammar we go chop At the grassroots level, prices no change ooooo e dey increase self NBC stop the lies! For example: Before the emergence of Buhari Beans was sold for N450 (paint) now its N1500 Rice(bag) N8000 now N15,000 Fuel (per litre) N87 now N145 Garri (paint) N200 now N550 Gas (12kg) N2800 now N4150 Groundout oil (25litres) - N6500 now N12,000 Potatoes (a sack) N1,500 now N8000 Yam (a tuber) N200 now N900 for a good one Please note that these are current prices so where is the inflation decrease 5 Likes |
Re: Nigeria’s Inflation Drops To 11.14% by Temptee101(m): 2:40pm On Aug 15, 2018 |
Story, we for this side never feel am. It's only on paper |
Re: Nigeria’s Inflation Drops To 11.14% by Weareone202: 2:40pm On Aug 15, 2018 |
Likewise the money � in people's pockets |
Re: Nigeria’s Inflation Drops To 11.14% by Temptee101(m): 2:42pm On Aug 15, 2018 |
modupe2:Keep deceiving yourself, soon it will dawn on you how stupid you have been for a long time |
Re: Nigeria’s Inflation Drops To 11.14% by BafanaBafana: 2:44pm On Aug 15, 2018 |
Thanks for the transparent and focused leadership of our President. Nigeria is gradually getting better. Slowly but steadily we will fix the damages pdp have done to our country. God bless PMB God bless Osibaba God bless Nigeria. Sai Buhari! ! 3 Likes |
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