INFLATION WATCH – MAY 2022
Headline Inflation in Nigeria increased to 17.71% in May 2022 Nigeria’s Consumer Price Index (CPI) for May 2022 printed higher at 17.71% Y-o-Y (Bloomberg median estimate +17.50%), an increase of c.0.89% from 16.82% Y-o-Y recorded in April 2022. Core and…
MPC HIGHLIGHT – MAY 2022
The Monetary Policy Committee (MPC) concluded its 2-day meeting today, and unexpectedly hiked the benchmark interest rate by 150bps to 13.00% (the first time since July 2016, from 12% to 14%), while leaving other key parameters constant. Please see…
Q1’2022 GDP Highlights
Nigeria Q1’2022 GDP grew by 3.11% Y-o-Y • The National Bureau of Statistics (NBS) published the Gross Domestic Product (GDP) figures for Q1:2022 today, revealing a 3.11% Y-o-Y growth in the economy. • Although the domestic growth rate slowed for the 3rd…
INFLATION WATCH – APRIL 2022
Rising global commodity prices steered Nigeria’s inflation to 16.82% in April 2022 Nigeria’s Consumer Price Index (CPI) for April 2022 printed significantly higher at 16.82% Y-on-Y (an 8-month high), up from 15.82% Y-o-Y in March (Bloomberg Consensus…
INFLATION WATCH – MARCH 2022
Nigeria’s CPI increases to 5-month high at 15.92% in March 2022 Nigeria’s annual inflation accelerated to 15.92% in March 2022 (12bps higher than Bloomberg’s consensus estimate), representing a 22bps increase from 15.70% recorded in February…
CBN MAINTAINS STATUS QUO ON KEY POLICY RATES, DESPITE RISING INFLATION – 21 MARCH 2022
Nigeria’s Monetary Policy Committee (MPC) concluded its second meeting of 2022 today, maintaining all key rates. Please see below, a summary of the committee’s decisions: – Retain MPR at…
INFLATION WATCH – FEBRUARY 2022
Surge in Energy prices drives Nigeria’s headline inflation rate to 15.70% Nigeria’s Consumer Price Index (CPI) for February 2022 expanded by 15.70% year-on-year, 10bps higher than January 2022 figures at 15.60% (matching the Bloomberg Consensus…
Nigeria’s GDP for Q4 2021 expanded further by +3.98% year-on-year
The Nigerian economy sustained its growth trajectory for the fifth consecutive quarter, as the economy recorded a real growth rate of +3.98% year-on-year in Q4 2021, with a cumulative 2021 GDP of +3.40% (from -1.92% in 2020 and higher than the Apex…
INFLATION WATCH – JANUARY 2022
Nigeria’s Headline Inflation Slows in January Nigeria’s Consumer Price Index (CPI) for January 2022 expanded by 15.60% year-on-year, down from 15.63% recorded in December 2021. The composite food sub-index grew by 17.13% year-on-year (vs. 17.37% recorded…
CBN HOLDS KEY POLICY RATES TO FOSTER ECONOMIC GROWTH – 25 JANUARY 2022
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) concluded its first monetary policy meeting of 2022 today, maintaining all key rates. Please see below, a summary of the committee’s decisions. …
