₦airaland Forum

THE Consumer Price Index (CPI) measuring inflation in the Nigerian economy has risen to its highest point of 16.5 per cent since 2005.


Report released by the National Bureau of Statistics (NBS) shows that inflation for the month of June spiked to its highest point since October 2005 — 11 years.

Inflation rose from 15.6 percent in May 2016 to 16.5 percent in June 2016, as energy and food prices weigh in heavy on inflation for the month.

“In June, the Consumer Price Index (CPI) which measures inflation continued to record relatively strong increases for the fifth consecutive month. The Headline index increased by 16.5% (year-on-year), 0.9% points higher from rates recorded in May (15.6%),” NBS said.

“Most COICOP divisions which contribute to the headline index increased at a faster pace, the increase was however weighed upon by a slower increase in three divisions; Recreation & Culture, Restaurant & Hotels, and Miscellaneous Goods & Services Year on year, energy prices, imported items and related products continue to be persistent drivers of the core sub-index.

“The Core index increased by 16.2% in June, up by approximately 1.2% points from rates recorded in May (15.1%). During the month, the highest increases were seen in the electricity, liquid Fuel (kerosene), furniture and furnishings, passenger transport by road, fuels and lubricants for personal transport equipment.”

Asides farm produce, the core sub-index increased by 16.2% in June (year-on-year), up approximately by 1.2% points from 15.1% recorded in May.

“The Core sub-index has increased at a faster pace for five consecutive months. Over the first six months of the year, the Core subindex increased by 12.8%, up 5.2% points from rates recorded in the corresponding period in 2015.”

Inflation has increased consistently since October 2015, with the change in exchange rate policy, in the latter part of June expected to weigh in on inflation for the month of July.

Goldman Sachs, an American multinational banking and investment firm, forecasts that Nigeria’s inflation will not rise above 20 percent in 2016, before it takes retreats to lower levels.

Source: http://www.vanguardngr.com/2016/07/nigerias-inflation-rate-hits-16-5-highest-point-since-2005/

What about the kwaruption Index?
Let's not worry by the time APC (All Promises Cancelled) finishes with Nigerians, the popular 97% will be fantastically sorry.

This is what buhari is good for

We are not scared, after all, paper statistics have disappointed us over the years,


Nigeria had the best economy in Africa on papers even when in reality, we were having 25million Unemployed Nigerians

Tell us something new!

.

Hm

[size=20pt] BUHARI IS A CATASTROPHIC DISASTER [/size]

Quote me anywhere

Sai Bubu

Idris Abdulkareem should remix that his popular song.. .. Nigeria jagajaga

Interms of economy, i never knew that Buhari can be this ineffectively, if I had known I wouldn't have shouted change.. see now, I have not eaten anything since morning. oh nooooooo.....*##crying already***#


Modified: pls check my signature

ed

Such is Buhari's History since 1983
Agent of Darkness

OBJ was elected in 1999, he hurriedly got to work, set up vibrant economic team rather than wasting precious time probing Abacha and the preceding useless government that had ruled before him, even though he set up institutions to fight fraud he didn't allow that to crumble the economy. Buhari came with useless moronic and autistic blabbing of "I will fight corruption" the so-called useless one-sided ethnically biased fight against corruption that he is doing, has had no palpable effect on our lives as citizens. They kept shouting that they've recovered huge amount of money from the treasury looters, yet we can't feel the effect on the economy, inflation is on the high side, income is on the low side as the purchasing power of naira has significantly reduced. God please come to our aid before Buhari kill us all. God you that snatched us from the jaw of Abacha, come to our aid now!

blabla the best President ever produce by Nigeria shoor certificateless zombies

very soon, even even the NBS will be ashame of measuring the inflation rate because the result will scare them.

make una wait till December

After the rain comes sunshine

We can feel it already in the price of commodities... Wat steps or policies should the govt take to reduce it before

It still doesn't change the Wages of sins.. It is still DEATH

Zombies will say
This inflation was rated by IPODS

Chai!

[color=#770077][/color]since I was born.I have never experienced this kind of CHANGE.over 35 years

Which way Nigeria.

Unimaginable

Hmmmm buhari Infact I don't even know what to say sef.Waiting ah know be say Me and fellow Nigerians go survive No be today yansh dey back

We never see anything yet...

Welldone BuBU

Baba d negative record breaker. His followers should be having a 2nd taught by now

what do u expect? when u hv brain dead cattle rearer as president.

Oya wailers una food don done...

UNA CHANGE WAY UNA ASK FOR, TAKE IT, BY THE WAY VOTE FOR THEM IN EDO CUS THEY SAID THEY WILL PROVIDE 200000 JOBS, IDIOTS.

Before the 2015 presidential election, my Grandpa of the blessed memory hearing my friends and I argue over Buhari and goodluck, that was after we came back from the new year eve, where Fr Mbaka preached the sermon of goodluck to badluck, came out and these are his exact words "I'm not trying to question the man of God but.... opening his back.... do you see these marks on my shoulder? those are the marks from Buhari's soldiers when we were queuing to collect a sachet of milk. the only time we saw such suffering again in this country was during abacha's regime. this is the man you people said he's the only solution, OK oh shaa I know say I no fit live pass the one wey I don live. na una go still suffer am " he died March this year. see where we are now, suffering and deaths with only blames as excuses from our leaders.

Things can only get better from here

he failed economics for crying out loud.