April 2024 CPI Report – A Tale of Two Sides
A Tale of Two Sides Yesterday, the National Bureau of Statistics (NBS) released the Consumer Price Index (CPI) for April 2024. Inflationary pressures persisted as headline inflation climbed 49bps to 33.69% YoY compared to 33.20% YoY in March 2024. This uptick was driven by both food inflation (+52bps to 40.53% YoY) and core inflation (+94bps […]
March 2024 CPI Report: A Moderation in Sight?
A Moderation in Sight? Yesterday, the National Bureau of Statistics (NBS) published the Consumer Price Index (CPI) for March 2024. Headline inflation sustained its upward trajectory, climbing 150bps to 33.20% Year-on-Year (YoY), up from 31.70% YoY recorded in February 2024. This was driven by significant increases in its two (2) main subcomponents: food (+209bps to […]
February 2024 CPI Report: Inflation Marches on
Inflation Marches on Yesterday, the National Bureau of Statistics (NBS) published the Consumer Price Index (CPI) for February 2024. The headline inflation continued on its upward trend, soaring by 180bps to 31.70% YoY compared to 29.90% YoY reported in January 2024. This upsurge was propelled by increases in its two (2) significant subcomponents: food (+251bps […]
January 2024 CPI Report | Uptrend Continues
Uptrend Continues Yesterday, according to the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), the Headline inflation for January 2024 increased by 98bps, reaching 29.90% Year-on-Year (YoY) compared to the 28.92% YoY recorded in December 2023. The sustained elevation in headline inflation is attributed to increases in the two major […]
December 2023 CPI Report | Inflation Bites Deeper
Inflation Bites Deeper Yesterday, the National Bureau of Statistics (NBS) released the Consumer Price Index (CPI) report for December 2023. Headline inflation increased by 72bps to 28.92% Year-on-Year (YoY), compared to 28.20% YoY in November 2023. This upswing was fueled by increases in its subcomponents: Food inflation (+109bps to 33.93% YoY) and Core Inflation (+68bps […]
October 2023 CPI Report | Rising Prices Remain Unabated
Rising Prices Remain Unabated Yesterday, the National Bureau of Statistics (NBS) released the inflation report for October 2023. Headline inflation jumped by 61bps to reach 27.33% YoY (vs 26.72% YoY in September 2023). This is on the back of increases in its two major sub-components, Food inflation (+88bps to 31.52% YoY) and Core inflation (+73bps […]
September 2023 CPI Report | A New High
A New High Yesterday, the Nigerian Bureau of Statistics (NBS) released the inflation report for September 2023. Headline inflation soared by 92bps Year-on-Year (YoY) to 26.72% (vs 25.80% YoY in August 2023). The increase in headline inflation can be attributed to the rise in the food inflation (+130bps YoY to 30.64%) and core inflation (+69bps […]
August 2023 CPI Report | Elevated Price Level – The New Normal?
Elevated Price Level – The New Normal? Earlier today, the National Bureau of Statistics (NBS) released its inflation report for August 2023. Headline inflation continued to surpass its 18-year high as it climbed higher by 172bps Year-on-Year (YoY) to 25.80% from 24.08% in July 2023. Similarly, Food inflation surged by 235bps YoY to 29.34% (vs. […]
July 2023 CPI Report | Removal of PMS Subsidy & FX Liberalization Bites Hard
Earlier this week, the National Bureau of Statistics (NBS) released the inflation report for July 2023. Headline inflation spiked by 1.29% Year-on-Year (YoY) to 24.08% (vs 22.79% in June 2023), marking the highest rate recorded in Nigeria since the reconstitution of the Consumer Price Index (CPI) in 2009. The surge in Headline inflation is on […]
June 2023 Inflation Report | Consistent Shocks to Consumers’ Wallet
We recently published a report on Nigeria’s Inflation for June 2023. The report shows that inflation has continued to rise. Consequently, we highlight reasons for this sustained movement as well as investment strategies that investors can undertake in the coming months so as to mitigate against rising inflation. INFLATION DATA FOR JUNE 2023 According to […]
