• About Us
  • Terms & Conditions
  • Contact Us
Saturday, April 1, 2023
Investogist
No Result
View All Result
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    Spain needs over 60,000 additional workers in Hospitality Industry, where to find the jobs

    Spain needs over 60,000 additional workers in Hospitality Industry, where to find the jobs

    2023: Labour Party eyes N80,000-N100,000 minimum wage

    Labour Party dismisses suspension of National Chairman Abure

    Trump congratulates Nigeria for Banning Twitter, says more countries should do same

    Donald Trump indicted over hush money payment, what it means

    FG advises Nigerians to be guided by UAE new visa regime

    FG launches passport production facility in Osun

    NGX RegCo approves Livingtrust Mortgage Bank’s free float compliance plan

    Turkey becomes last NATO nation to ratify Finland membership

    Peter Obi is an emerging force that can’t be wished away by anyone – Okezie Ikpeazu

    2023 Election: I predicted the Peter Obi effect – Okezie Ikpeazu

    Why PDP didn’t follow Wike’s option — Atiku’s spokesperson

    PDP reverses suspension of Fayose, Anyim, others

    Election postponement to affect start of 2023 Census – NPC

    2023 census: No question will be asked on religion – NPC

    Actor Yul Edochie loses first son

    Actor Yul Edochie loses first son

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rose to N46.25 trillion in 2022, 84.73% of bilateral debt owed to China

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    CBN raises interest rate for the 6th consecutive time

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    UBA suffers maximum possible loss on NSE as investors dump the stocks

    UBA announces N0.90 final dividend for 2022 financial year

    CEO of Ecobank Group to retire, new CEO announced

    Ecobank to pay dividend of 0.11 US cents for 2022 Financial Year

    MTN Nigeria to pay over N200 billion final dividend for 2022

    CAP Plc announces N1.55 final dividend for 2022 FY

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2023, qualification and payment dates

    AGM suspension: Oando’s shareholder wins court case against SEC

    JUST IN: OANDO Plc to delist from Nigerian Exchange, Johannesburg Stock Exchange

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI Increased By 90bps, as Dangote Cement gains 5.07%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI declined by 1.16% as Dangote Cement falls 4.17%

    List of Stockbrokers in Nigeria

    List of Stockbrokers in Nigeria

    MTN Nigeria to pay over N200 billion final dividend for 2022

    Custodian Investments Plc announces 55 kobo final dividend for 2022 FY

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    UAC of Nigeria Plc declares 22 kobo Dividend for 2022 FY

    UAC of Nigeria Plc declares 22 kobo Dividend for 2022 FY

    FY 2020: Zenith Bank Plc rakes in N230.6 billion profit after tax

    Zenith Bank Plc reports N223.91 billion profit after tax for 2022 FY

    FY 2020: Zenith Bank Plc rakes in N230.6 billion profit after tax

    Zenith Bank Plc announces N91 billion final dividend for 2022 FY

    Board of Fidson Healthcare Plc approve 55 kobo Dividend

    Board of Fidson Healthcare Plc approve 55 kobo Dividend

    N1.17 dividend approved by Beta Glass Plc Board of Directors for 2022 FY

    N1.17 dividend approved by Beta Glass Plc Board of Directors for 2022 FY

    May & Baker Nigeria Plc announces 30 kobo dividend for 2022 FY

    May & Baker Nigeria Plc announces 30 kobo dividend for 2022 FY

    FG agrees to pay $496 million as settlement claim for Ajaokuta Steel, others

    Seplat Energy Plc takes legal action against Orjiako

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Approval given for acquisition of International Energy Insurance Plc

    UBS agrees to buy troubled 167 years old rival, Credit Suisse

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    Spain needs over 60,000 additional workers in Hospitality Industry, where to find the jobs

    Spain needs over 60,000 additional workers in Hospitality Industry, where to find the jobs

    2023: Labour Party eyes N80,000-N100,000 minimum wage

    Labour Party dismisses suspension of National Chairman Abure

    Trump congratulates Nigeria for Banning Twitter, says more countries should do same

    Donald Trump indicted over hush money payment, what it means

    FG advises Nigerians to be guided by UAE new visa regime

    FG launches passport production facility in Osun

    NGX RegCo approves Livingtrust Mortgage Bank’s free float compliance plan

    Turkey becomes last NATO nation to ratify Finland membership

    Peter Obi is an emerging force that can’t be wished away by anyone – Okezie Ikpeazu

    2023 Election: I predicted the Peter Obi effect – Okezie Ikpeazu

    Why PDP didn’t follow Wike’s option — Atiku’s spokesperson

    PDP reverses suspension of Fayose, Anyim, others

    Election postponement to affect start of 2023 Census – NPC

    2023 census: No question will be asked on religion – NPC

    Actor Yul Edochie loses first son

    Actor Yul Edochie loses first son

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rose to N46.25 trillion in 2022, 84.73% of bilateral debt owed to China

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    CBN raises interest rate for the 6th consecutive time

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    UBA suffers maximum possible loss on NSE as investors dump the stocks

    UBA announces N0.90 final dividend for 2022 financial year

    CEO of Ecobank Group to retire, new CEO announced

    Ecobank to pay dividend of 0.11 US cents for 2022 Financial Year

    MTN Nigeria to pay over N200 billion final dividend for 2022

    CAP Plc announces N1.55 final dividend for 2022 FY

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2023, qualification and payment dates

    AGM suspension: Oando’s shareholder wins court case against SEC

    JUST IN: OANDO Plc to delist from Nigerian Exchange, Johannesburg Stock Exchange

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI Increased By 90bps, as Dangote Cement gains 5.07%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI declined by 1.16% as Dangote Cement falls 4.17%

    List of Stockbrokers in Nigeria

    List of Stockbrokers in Nigeria

    MTN Nigeria to pay over N200 billion final dividend for 2022

    Custodian Investments Plc announces 55 kobo final dividend for 2022 FY

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    UAC of Nigeria Plc declares 22 kobo Dividend for 2022 FY

    UAC of Nigeria Plc declares 22 kobo Dividend for 2022 FY

    FY 2020: Zenith Bank Plc rakes in N230.6 billion profit after tax

    Zenith Bank Plc reports N223.91 billion profit after tax for 2022 FY

    FY 2020: Zenith Bank Plc rakes in N230.6 billion profit after tax

    Zenith Bank Plc announces N91 billion final dividend for 2022 FY

    Board of Fidson Healthcare Plc approve 55 kobo Dividend

    Board of Fidson Healthcare Plc approve 55 kobo Dividend

    N1.17 dividend approved by Beta Glass Plc Board of Directors for 2022 FY

    N1.17 dividend approved by Beta Glass Plc Board of Directors for 2022 FY

    May & Baker Nigeria Plc announces 30 kobo dividend for 2022 FY

    May & Baker Nigeria Plc announces 30 kobo dividend for 2022 FY

    FG agrees to pay $496 million as settlement claim for Ajaokuta Steel, others

    Seplat Energy Plc takes legal action against Orjiako

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Approval given for acquisition of International Energy Insurance Plc

    UBS agrees to buy troubled 167 years old rival, Credit Suisse

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home Economy Economic Data

Nigeria Records the Highest Inflation in over Two Years

Wednesday, 17 June 2020, 6:55 pm
in Economic Data, Economy
0
Nigeria Records the Highest Inflation in over Two Years
Share Share Share Share Send as Email

According to the latest report by the National Bureau of Statistics, the Consumer price index (CPI) which measures inflation increased by 12.4% year on year in May 2020. This is the highest inflation recorded in over two years.

The increase implies that the average change in the prices of goods and services consumed by people for day-to-day living rose year on year.

May 2020 inflation figure show 0.06% rise when compared to 12.34% recorded in April. This is the 9th consecutive rise in inflation with the latest May rate hitting 25 Month high.

On month-on-month basis, the Headline index increased by 1.17% in May 2020, this is 0.15% rate higher than the  1.02% rate recorded in April 2020.

This rise is largely attributed to the increase in prices of goods and services due to the lock-down measures imposed to control the spread of Covid-19 pandemic. Nigeria has recorded over 17,000 confirmed cases of the virus and more than 450 deaths.

Read more; ‘Major Breakthrough’ in Covid-19 Treatment; 490 new cases recorded in Nigeria

The urban inflation rate increased by 13.03%(year-on-year) in May 2020 from 13.01% recorded in April 2020, while the rural inflation rate increased by 11.83% in May 2020 from 11.73% in April 2020.

The composite food index rose by 15.04% in May 2020 compared to 15.03% in April 2020. This rise in the food index was caused by increase in prices of Bread and cereals, Potatoes, Yam and other tubers, Oils and fats, Fruits, Fish and Meat.

The ”All items less farm produce” or Core inflation, which excludes the prices of volatile agricultural produce stood at 10.12% in May 2020, up by 0.14% when compared with 9.98% recorded in April 2020.

The highest increases were recorded in prices of pharmaceutical products, Medical services, Repair of furniture, Hospital services, Passenger transport by road, Motor car, Bicycles, Maintenance and repair of personal transport equipment, Passenger transport by sea and inland waterways, Paramedical services, Motor cycles and Hairdressing salons and personal grooming establishment.

Read further; The Case of Regency Assurance Insurance Plc: Merger or Recapitalization?

In May 2020, food inflation on a year on year basis was highest in Abuja (18.13%), Osun (17.40%) and Imo (17.13%), while Abia (13.46%), Bauchi (12.97%) and Kaduna (12.97%) recorded the slowest rise.

In May 2020, all items inflation on year on year basis was highest in Rivers (14.69%), Bauchi (14.91%) and Ebonyi, Kogi and Plateau (13.87%), while Benue (11.13%), Adamawa (11.10%) and Kwara (10.58%) recorded the slowest rise in headline Year on Year inflation

The value of money is negatively affected by rise in inflation rate and the purchasing of the public is declined.

This means that the amount of will purchase limited amount of goods than it use to. This scenario presents a difficulty especially for fixed income earners, whose income is not moving in the same direction as the inflation.

The reduction in value of money also have adverse effects on cash assets especially the cash held at hand or in bank accounts.

Nine consecutive increase in inflation rate is not good for the economy. Nigeria has started easing the lockdown measures, but as covid-19 pandemic continues to take its toll on economic activities, the trend in Nigeria’s inflation rate is likely to continue in June.

Written by

Ifunanya Ikueze

Related Posts:

  • Nigeria's inflation climbs above 20%, highest in 17 years
    Nigeria's inflation climbs above 20%, highest in 17 years
  • Just in: Nigeria's Inflation rate hits 17.33%, the highest in four years
    Just in: Nigeria's Inflation rate hits 17.33%, the highest…
  • Just in: Nigeria’s Inflation rate hits 18.17%, the highest in over four years
    Just in: Nigeria’s Inflation rate hits 18.17%, the highest…
  • Just in: Inflation rate in Nigeria hits 13.71%, highest in two and half years
    Just in: Inflation rate in Nigeria hits 13.71%, highest in…
Tags: Nigeria Inflation
Previous Post

Dangote Cement Plc AGM Resolutions

Next Post

Another Big Plan Christened Bouncing Back: Nigeria Economic Sustainability Plan

Next Post
Another Big Plan Christened Bouncing Back: Nigeria Economic Sustainability Plan

Another Big Plan Christened Bouncing Back: Nigeria Economic Sustainability Plan

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2023, qualification and payment dates

UBA suffers maximum possible loss on NSE as investors dump the stocks

UBA announces N0.90 final dividend for 2022 financial year

Peter Obi is an emerging force that can’t be wished away by anyone – Okezie Ikpeazu

2023 Election: I predicted the Peter Obi effect – Okezie Ikpeazu

Custodian Investments Plc announces 10 kobo interim dividend for H1 2022

List of Dividends announced in 2022, qualification and payment dates

Spain needs over 60,000 additional workers in Hospitality Industry, where to find the jobs

Spain needs over 60,000 additional workers in Hospitality Industry, where to find the jobs

2023: Labour Party eyes N80,000-N100,000 minimum wage

Labour Party dismisses suspension of National Chairman Abure

UAC of Nigeria Plc declares 22 kobo Dividend for 2022 FY

UAC of Nigeria Plc declares 22 kobo Dividend for 2022 FY

Trump congratulates Nigeria for Banning Twitter, says more countries should do same

Donald Trump indicted over hush money payment, what it means

Investogist
info@investogist.com

Follow us

Categories

  • Africa
  • Agriculture
  • Arts & Culture
  • Budgets
  • Business
  • Columnists
  • Commodities
  • Companies
  • Cryptocurrencies
  • Economic Data
  • Economy
  • Editorials
  • Financial Education
  • Football
  • Forex
  • Industry
  • Investogist Business Saturday
  • Job Opportunities
  • Markets
  • Nature
  • News
  • Nigeria
  • Op-ed
  • Opinion & Analysis
  • Places & People
  • Policies
  • Rates & Bonds
  • Sports
  • Stocks/Equities
  • Technology
  • Travel & Tours
  • Vacancies
  • World

Quick Links

  • News
  • Economy
  • Markets
  • Business
  • Opinion & Analysis
  • Travel & Tours

Newsletter

Copyright © 2023 investogist.com, All Rights Reserved

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies

Copyright © 2023 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist