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Nigeria Inflation Rose To 28.20% In November – NBS - Politics - Nairaland

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Nigeria Inflation Rose To 28.20% In November – NBS by treesun: 1:15pm On Dec 15, 2023
Nigeria’s annual inflation rose to 28.20% in November from 27.33% in October, the National Bureau of Statistics has said.

According to the statistics office, food and non-alcoholic beverages were the biggest contributors to the rise in inflation.

Recall that inflation in Nigeria, Africa’s largest economy, has risen to double-digits since 2016, eroding incomes and savings and worsening a cost-living crisis in the continent’s most populous country.


Meanwhile, the new governor of the Central Bank of Nigeria, Olayemi Cardoso, has adopted an inflation-targeting policy and vowed to phase out the bank’s fiscal intervention programs in a bid to tame inflation.

The CBN on Thursday said the country’s inflation rate and the pressures on the exchange rate will reduce in the coming year.

While the country’s inflation rate jumped to 27.33% in November—the highest in 18 years—Cardoso projects a slump in 2024.

“The outlook for the domestic economy remains positive and is expected to maintain the positive trajectory for 2024,” he told the Joint Committee on Banking, Insurance, and Other Financial Institutions in Abuja.

“Inflation pressures may persist in the short-term but are expected to decline in 2024. Exchange rate pressures are also expected to reduce significantly with the smooth functioning of the foreign exchange market.”

He also said the country is expecting less oil revenue in the new year owing to several factors.

“Total Trade in the third quarter of 2023, stood at N18.804.68 billion. Exports were valued at N10.346.60 billion while total imports stood at N8.457.68 billion.

“This represents a positive trade balance, which would lead to an increase of the external reserves,” Cardoso told the lawmakers.

https://www.vanguardngr.com/2023/12/nigeria-inflation-rose-to-28-20-in-november-nbs/
Re: Nigeria Inflation Rose To 28.20% In November – NBS by atiku4President(m): 1:32pm On Dec 15, 2023
Not relenting at all.
Re: Nigeria Inflation Rose To 28.20% In November – NBS by KwuoteYourFada: 1:33pm On Dec 15, 2023
Na statistics we go chop grin

1 Like

Re: Nigeria Inflation Rose To 28.20% In November – NBS by slivertongue: 1:49pm On Dec 15, 2023
APC killed the economy.
Re: Nigeria Inflation Rose To 28.20% In November – NBS by omowolewa: 1:50pm On Dec 15, 2023
Like come next year, what I buy for 10000 would be 13000?
Re: Nigeria Inflation Rose To 28.20% In November – NBS by IamAtikulate: 1:56pm On Dec 15, 2023
Yorubas are destroying the country like they destroyed Ibadan
Re: Nigeria Inflation Rose To 28.20% In November – NBS by Armaggedon: 1:56pm On Dec 15, 2023
If NBS tell you it's 28% just know it's actually 75%
Re: Nigeria Inflation Rose To 28.20% In November – NBS by Ikaeniyan0: 2:06pm On Dec 15, 2023
sad
Re: Nigeria Inflation Rose To 28.20% In November – NBS by FreeStuffsNG: 3:00pm On Dec 15, 2023
IamAtikulate:
Yorubas are destroying the country like they destroyed Ibadan
Smh. Inflation is calculated from the change in price of selected products and services in a basket, it is not for all products and services.

In November, school fees never changed neither did prices of most educational materials so it's ignorant to assume that what you read there's an absolute number.

Re: Nigeria Inflation Rose To 28.20% In November – NBS by nairalanda1(m): 3:02pm On Dec 15, 2023
FreeStuffsNG:

Smh. Inflation is calculated from the change in price of selected products and services in a basket, it is not for all products and services.

In November, school fees never changed neither did prices of most educational materials so it's ignorant to assume that what you read there's an absolute number.

Still does not change the fact that inflation is happening, so stop pretending it isn't.

Your party is not doing well. Diversifying the economy would have ended this. They no wan do.

1 Like

Re: Nigeria Inflation Rose To 28.20% In November – NBS by TruthsFM: 3:05pm On Dec 15, 2023
Tinubu harsh economy policies increase the rate of inflation in our economy. So so unfortunate seriously.
Re: Nigeria Inflation Rose To 28.20% In November – NBS by PHIPEX(m): 3:05pm On Dec 15, 2023
APC .....change

APC...Renew hope.

SAI Baba

EMILOKAN

Nonsense scammers

1 Like

Re: Nigeria Inflation Rose To 28.20% In November – NBS by Ozommadu: 3:06pm On Dec 15, 2023
So its no longer 4%?? You guys are tired lieing to yourselves and gullible aso rock animals


This tinubulation still long oo


grin grin

1 Like

Re: Nigeria Inflation Rose To 28.20% In November – NBS by Kukutente23: 3:37pm On Dec 15, 2023
APC doings
Turning Zombies to almajiri one month at a time

Fun fact: This is Nigeria's highest inflation rate ever since return to democracy in 1999

1 Like 1 Share

Re: Nigeria Inflation Rose To 28.20% In November – NBS by Kukutente23: 3:38pm On Dec 15, 2023
FreeStuffsNG:

Smh. Inflation is calculated from the change in price of selected products and services in a basket, it is not for all products and services.

In November, school fees never changed neither did prices of most educational materials so it's ignorant to assume that what you read there's an absolute number.
There is no sense in this your post o
You should delete it
In which planet is school fees paid every month?
O ga o
And you go come out, talk say you go school 😆😆
Re: Nigeria Inflation Rose To 28.20% In November – NBS by FreeStuffsNG: 3:43pm On Dec 15, 2023
Kukutente23:

There is no sense in this your post o
You should delete it
In which planet is school fees paid every month?
O ga o
And you go come out, talk say you go school 😆😆
Insolent, uncouth and ignorant as usual. Smh

School fees are paid monthly by some people , same as rents, and my reference to school fees is just one among countless other goods and services that their prices have not changed. If you studied economics and/or pay for services in real life you will not be this rude and ignorant.

Re: Nigeria Inflation Rose To 28.20% In November – NBS by Kukutente23: 3:45pm On Dec 15, 2023
FreeStuffsNG:
Insolent, uncouth and ignorant as usual. Smh

School fees are paid monthly by some people , same as rents, and my reference to school fees is just one among countless other goods and services that their prices have not changed. If you pay for services in real life you will not be this rude and ignorant.
Example of where school fees is paid per month pls?
I guess you're the one feeding and taking care of my expenses Mr freestuffs
Re: Nigeria Inflation Rose To 28.20% In November – NBS by happney65: 3:46pm On Dec 15, 2023
FreeStuffsNG:
Insolent, uncouth and ignorant as usual. Smh

School fees are paid monthly by some people , same as rents, and my reference to school fees is just one among countless other goods and services that their prices have not changed. If you studied economics and/or pay for services in real life you will not be this rude and ignorant.

Which school do you pay their fees monthly. In this Nigeria? Show me one please
Maybe na your agbo ile for Okitipupa sha undecided
Re: Nigeria Inflation Rose To 28.20% In November – NBS by Sunday2021: 4:13pm On Dec 15, 2023
I watch when the drug lord was campaigning and he promise to bring inflation to single digits. Now we are seeing the opposite.
Tinubu is a disaster.
Re: Nigeria Inflation Rose To 28.20% In November – NBS by treesun: 4:21pm On Dec 15, 2023
FreestuffNg looking, Nlfpmod!
Re: Nigeria Inflation Rose To 28.20% In November – NBS by treesun: 11:03pm On Dec 15, 2023
KwuoteYourFada:
Na statistics we go chop grin
!
Re: Nigeria Inflation Rose To 28.20% In November – NBS by Blackfire(m): 12:28am On Dec 16, 2023
That means 2024 will be hard for you
Re: Nigeria Inflation Rose To 28.20% In November – NBS by iwaeda: 10:24am On Dec 16, 2023
treesun:
Nigeria’s annual inflation rose to 28.20% in November from 27.33% in October, the National Bureau of Statistics has said.

According to the statistics office, food and non-alcoholic beverages were the biggest contributors to the rise in inflation.

Recall that inflation in Nigeria, Africa’s largest economy, has risen to double-digits since 2016, eroding incomes and savings and worsening a cost-living crisis in the continent’s most populous country.


Meanwhile, the new governor of the Central Bank of Nigeria, Olayemi Cardoso, has adopted an inflation-targeting policy and vowed to phase out the bank’s fiscal intervention programs in a bid to tame inflation.

The CBN on Thursday said the country’s inflation rate and the pressures on the exchange rate will reduce in the coming year.

While the country’s inflation rate jumped to 27.33% in November—the highest in 18 years—Cardoso projects a slump in 2024.

“The outlook for the domestic economy remains positive and is expected to maintain the positive trajectory for 2024,” he told the Joint Committee on Banking, Insurance, and Other Financial Institutions in Abuja.

“Inflation pressures may persist in the short-term but are expected to decline in 2024. Exchange rate pressures are also expected to reduce significantly with the smooth functioning of the foreign exchange market.”

He also said the country is expecting less oil revenue in the new year owing to several factors.

“Total Trade in the third quarter of 2023, stood at N18.804.68 billion. Exports were valued at N10.346.60 billion while total imports stood at N8.457.68 billion.

“This represents a positive trade balance, which would lead to an increase of the external reserves,” Cardoso told the lawmakers.

https://www.vanguardngr.com/2023/12/nigeria-inflation-rose-to-28-20-in-november-nbs/

This is the highest from any government. Someone that put all his clans and friends in economy of Nigeria. Running the country down by bad policies. grin grin grin grin grin grin
Re: Nigeria Inflation Rose To 28.20% In November – NBS by Usmanovic95(m): 11:11am On Dec 16, 2023
FreeStuffsNG:
Insolent, uncouth and ignorant as usual. Smh

School fees are paid monthly by some people , same as rents, and my reference to school fees is just one among countless other goods and services that their prices have not changed. If you studied economics and/or pay for services in real life you will not be this rude and ignorant.

Care to name the names of schools that wards pay monthly school fees.please don't mention a tutorial centre o .

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