Browsing: Nigeria inflation

• Stanbic IBTC Bank Nigeria’s headline PMI declined to 46.9 in October from 49.8 reported in September.
• This is a pointer that the country suffered a marked deterioration in business conditions during the start of the fourth quarter.
• Stanbic Bank report says this was the most pronounced dip in private sector trade activity since March last year.

Nigeria suffered the third-fastest rise in overall input prices on record in October 2024 forcing a downturn in the country’s private sector activity at the start of the final quarter of the year.

Stanbic IBTC Bank Nigeria’s headline PMI declined to 46.9 in October from 49.8 reported in September, a pointer that the country suffered a marked deterioration in business conditions. The bank said this was the most pronounced dip in trade activity since March last year.

Persistent price pressures across sectors saw consumers scale back on their spending priorities, contributing to a …

• Nigeria’s headline inflation dropped to 32.15 per cent from 33.40 per cent in July.
• This marks a slight respite for Africa’s most populous nation, which has been battling relentless inflationary pressures for well over a year.
• But the long-term outlook remains uncertain, as analysts warn that this reprieve could be short-lived.

Nigeria inflation cooled in August 2024, largely due to improved food supply driven by favorable weather conditions. According to the National Bureau of Statistics (NBS) update on Monday, the country’s headline inflation dropped to 32.15 per cent from 33.40 per cent in July. This marks a slight respite for Africa’s most populous nation, which has been battling relentless inflationary pressures for well over a year.

The relief in inflation was largely tied to falling food prices. As the harvest brought in abundant supplies of tomatoes, peppers, yams, and other staple foods, food inflation, a key driver of the overall …