Inflation Archives - Nigeria Business Now

Business

Inflation rate climbs up to 32.70% in Sept -NBS

The National Bureau of Statistics (NBS) has reported Nigeria’s headline inflation rate increasing to to 32.70 per cent in September 2024. The Statistician-General of the Federation, Adeyemi Adeniran, revealed in a statement issued on the Consumer Price Index (CPI) and Inflation Report for September 2024 in Abuja on Tuesday[Read More…]

October 16, 2024 by Eberechi Constance Comments are Disabled

Business

CBN increases interest rate to 26.75% amid soaring Inflation

CBN increases interest rate to 26.75% amid soaring Inflation The Central Bank of Nigeria (CBN) has again raised the Monetary Policy Rate (MPR), which measures interest rates by 50 basis points, from 26.25% to 26.75% amid soaring inflation and skyrocketing food prices. CBN Governor, Olayemi Cardoso, announced this after[Read More…]

July 24, 2024 by Eberechi Constance Comments are Disabled

Business

World Bank to CBN: Interest rate hikes may not effectively combat inflation

World Bank to CBN: Interest rate hikes may not effectively combat inflation The World Bank has said that there is a possibility the monetary policy tightening by the Central Bank of Nigeria (CBN) would not rein inflation. In its global economic prospects report released on Wednesday, the Bretton Woods institution[Read More…]

June 13, 2024 by Eberechi Constance Comments are Disabled

Labour

Labour to push for N1m as minimum wage if inflation continues

Labour to push for N1m as minimum wage if inflation continues The President of the Nigeria Labour Congress, Joe Ajaero, has stated that if the ongoing inflation continues unabated, organised labour might push for a new minimum wage of up to N1 Million for Nigerian workers. Ajaero said[Read More…]

February 12, 2024 by Eberechi Constance Comments are Disabled

Business

CBN targets 21.4 per cent inflation, says naira is undervalued

CBN targets 21.4 per cent inflation, says naira is undervalued The Central Bank of Nigeria (CBN) on said is aiming at an inflation rate of 21.4 per cent this year compared with 28.92 per cent in December. Governor of Central Bank of Nigeria, Yemi Cardoso who was speaking[Read More…]

January 25, 2024 by Eberechi Constance Comments are Disabled

CBN to Tackle Inflation, Exchange Rate Problems Next Year

CBN to Tackle Inflation, Exchange Rate Problems Next Year The Central Bank of Nigeria (CBN), has said that it will tackle the rising inflation and exchange rates issues by next year. It also projected less revenue from oil exports in the fiscal year , just as it declared[Read More…]

December 15, 2023 by Eberechi Constance Comments are Disabled

The Bank of England poised to raise interest rates amidst soaring inflation

The Bank of England poised to raise interest rates amidst soaring inflation The Bank of England is gearing up for yet another interest rate hike. Anticipations are high that during its upcoming meeting, the bank will announce its 14th consecutive rate increase. The Bank of England looks likely to raise[Read More…]

July 28, 2023 by Eberechi Constance Comments are Disabled

Nigeria inflation may hit 30%, Bank of America warns

Nigeria inflation may hit 30%, Bank of America warns The Bank of America has said the Monetary Policy Committee of the Central Bank may need to increase interest rates by at least 700 basis points before the end of the year to curb inflation. In an interview with Bloomberg on[Read More…]

July 5, 2023 by Eberechi Constance Comments are Disabled

Business

Inflation: IMF asks Europe to sustain rate hike

The International Monetary Fund (IMF) has advised central banks in Europe to sustain interest rate hike until inflation is defeated. In a report entitled: Working in Concert to Defeat Inflation, Director, European Department, IMF, Alfred Kammer said policymakers were facing a multifaceted challenge: to defeat inflation, while safeguarding financial stability[Read More…]

May 30, 2023 by Eberechi Constance Comments are Disabled

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