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Nigeria Inflation rate Drops To 15.99% In October - as food prices ease - Business - Nairaland

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Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by fergie001: 2:10pm On Nov 15, 2021
Nigerian inflation slowed to a 10th-month low in October, giving the central bank scope to leave interest rates on hold next week.

Consumer prices increased 15.99% from a year earlier, compared with 16.63% in September, Statistician-General Simon Harry told reporters Monday in Abuja, the capital. The median estimate in a Bloomberg survey of seven economists was 16.2%.

While inflation has exceeded the 9% ceiling of the central bank’s target band for more than six years, the sustained slowdown in price-growth may give the monetary policy committee room to hold rates and aid the economy’s rebound from last year’s coronavirus-induced contraction. Economic output in Africa’s biggest oil producer has lagged the pace of population expansion of about 2.6% every year since crude prices fell in 2015.

Central bank Governor Godwin Emefiele has previously said the MPC will only make policy adjustments once the economy’s recovery is on a sustainable path. The median estimate of 11 economists in a Bloomberg survey is for interest rates to start rising in the first quarter of next year.

The central bank will announce its interest-rate decision on Nov. 23.

The deceleration in inflation was largely helped by annual food-price growth, which slowed to 18.3% from 19.6% in September. Core inflation, which excludes farm produce, eased to 13.3%, compared with 13.7% in the previous month.

The slowdown is expected to continue unless there’s a shock in the system, Harry said.

Africa’s largest economy has struggled to overcome a more than decade-long Islamist insurgency in the northeast and bandit attacks in the northwest that have disrupted farming and displaced millions.

“Security challenges in key food-growing regions will keep a floor on further price declines,” said Ikemesit Effiong, head of research at SBM Intelligence, ahead of the release.

BNN Bloomberg

1 Like 1 Share

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by Mcpe: 2:25pm On Nov 15, 2021
“Food cost ease”? Is like they found new meaning for this phrase. Apc Government, they can change anything and everything (for bad though)


On a lighter note; Nigeria will humble you!

82 Likes 2 Shares

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by visiondee(m): 2:25pm On Nov 15, 2021
For where? Abeg no allow me stone you slippers oooo, no siddon for office come dey yarn dust, you enter market so? To soak garri now, na for big man things... Food never cheap here oooo... But no know for pesin below me... If food neva cheap for ya side, gather here now, make we go protest over this report


NB: Call me after u don gather finish, I wan go find wetin I go put for belle first

34 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by Divoc19(f): 2:25pm On Nov 15, 2021
Food price ease for where? Lies on paper

65 Likes 3 Shares

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by haconjy(m): 2:25pm On Nov 15, 2021
I am short of curse for for Buhari, APC, And Fool..ani.

19 Likes 1 Share

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by Nobody: 2:25pm On Nov 15, 2021
Fake News....Food Price did not decrease grin

If you're still wondering why they are eating grass in the animal husbandry region

Gravity doesn't affect price in Nigeria

17 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by flourish01(m): 2:25pm On Nov 15, 2021
shocked shocked
Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by MrCGPA(m): 2:25pm On Nov 15, 2021
Hope the Person that wrote the above information is in Same Nigeria with me? Prices of which Stuff has gone down or this person is Mad? Prices are skyrocketing more and this one is saying the opposite. Inflation kill you there!

7 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by haconjy(m): 2:25pm On Nov 15, 2021
Ogao

4 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by brightology3: 2:26pm On Nov 15, 2021
Ok
Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by house10s: 2:26pm On Nov 15, 2021
Queens English
?
African English
shey

Is this ur pone?
na u get d pone shey

? is also known as shey
Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by ukehnonny: 2:26pm On Nov 15, 2021
Audio easing. Things are still very expensive here.
This country dey carry person catch cruise

5 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by reubenobi(m): 2:26pm On Nov 15, 2021
No price goes down in Nigeria.

1 Like

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by Gabbiayo: 2:26pm On Nov 15, 2021
This one don psyche ni angry embarassed

2 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by haconjy(m): 2:26pm On Nov 15, 2021
2 digits.
GEJ left this thing in 1 digit.

God, are you not going to do anything?

15 Likes 1 Share

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by sanpipita(m): 2:26pm On Nov 15, 2021
Knew we were going to experience voodoo economics once Yemi Kale left the NBS as DG, yet another institution destroyed by buhari.

5 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by Randal: 2:26pm On Nov 15, 2021
Which food prices eased?

4 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by drakeskull(m): 2:26pm On Nov 15, 2021
abeg for which market?

5 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by theantidote: 2:26pm On Nov 15, 2021
Prices are sticky upward.. Audio inflation drop

11 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by Loverofpeace: 2:26pm On Nov 15, 2021
grin the only thing wey the price drop na pure water it's now ten naira,even chin gum na still twenty naira.


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Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by Naudeyrushme(m): 2:26pm On Nov 15, 2021
Shey nah this same Nigeria wey i ask of price of Malta Guiness whey be 250naira for can 200 for plastic

5 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by uduokirika1(m): 2:26pm On Nov 15, 2021
Ok
Tales by MoonLie Mohammed

2 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by haconjy(m): 2:26pm On Nov 15, 2021
Drop?

1 Like

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by seyz91(m): 2:27pm On Nov 15, 2021
you dey mind them undecided
Randal:
Which food prices eased?

2 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by Edoi(m): 2:27pm On Nov 15, 2021
Lori iro

2 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by tefishy(m): 2:27pm On Nov 15, 2021
Eased?? How

2 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by haconjy(m): 2:27pm On Nov 15, 2021
Ghummm
Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by udemzyudex(m): 2:27pm On Nov 15, 2021
Which of the food price?

5 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by haconjy(m): 2:27pm On Nov 15, 2021
Ojo Ade Song,
Epe si ko beeni ki se ase,
Ti APC ba ko lati ronu piwada,
Ko ni dara fun won, n'iwe mimo so.

1 Like

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by Tochyno1995(m): 2:27pm On Nov 15, 2021
shocked shocked shocked
Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by Nickymichy(m): 2:27pm On Nov 15, 2021
Says who?

2 Likes

Re: Nigeria Inflation rate Drops To 15.99% In October - as food prices ease by seyz91(m): 2:27pm On Nov 15, 2021
same way dem dey inform buhari wrongly that nigerians like him and nigerians are enjoying his government

Randal:
Which food prices eased?

5 Likes

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