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    JAMB sets 150 as cut-off mark for 2025/2026 university admissions

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    President Buhari commissions the new US$100m Ultra-modern MMIA Terminal

    Festus Keyamo – Our Plans for the Murtala Mohammed International Airport Lagos

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Conoil Plc reports 88.8% drop in profit to N900 million in H1 2025

    Brent crude oil price rise above $70 on OPEC projections

    OPEC+ agrees to increase oil production for September

    Nigeria to concession Enugu, Port Harcourt and three other airports

    Federal Government approves 30-year concession for Enugu Airport

    Only 23% of Nigerians trust INEC- Report says

    Nationwide Voter registration begins August 18 – INEC

    FG approves 300% increase in electricity tariff

    NERC has no authority over state tariff – Enugu Electricity Regulator

    US Court clears Donald Trump to run for President

    Breaking: US and EU agree trade deal

    Federal Government commissions three “ultra-modern” oncology centers

    Federal Government commissions three “ultra-modern” oncology centers

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    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

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    President Tinubu assents to Nigerian Insurance Industry reform bill 2025

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    ADES signs agreement to acquire Shelf Drilling Ltd

    Ecobank Nigeria Limited to launch $300 million senior notes

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    Nigeria’s C&I Leasing Plc to invest in Leasafric Logistics Ghana

    Nigeria’s C&I Leasing Plc to invest in Leasafric Logistics Ghana

    Stanbic IBTC Holdings Plc announces N1.50 interim dividend for half-year 2023

    Consolidated Hallmark Holdings Plc declares 10 kobo interim dividend for H1 2025

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    Beta Glass Plc reports 334% year-on-year growth in profit

    Caverton Shareholders approve 10 kobo per share dividend and others at AGM

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    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

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    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

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Just in: US Inflation majors rise by highest since 2009

Wednesday, 12 May 2021, 2:16 pm
in News, World
0
Nigeria’s Inflation rate hits16.47%, the highest since May 2017
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The US Consumer Price Index rose 0.8% month-on-month in April according to the Bureau of Labor statistics. This is higher than the 0.2% estimate by economists surveyed by Bloomberg as prices of common goods rose faster than expected.

From February to March the CPI jumped by 0.6%. Year-on-year, CPI figure rose to 4.2%, the highest rise since 2009, according to Bloomberg. The rate is also higher than the 3.2% year-on-year rise forecasted by economists.

The Core CPI rose 0.9% from March figures excluding the volatile food and energy components. Bloomberg survey of economists forecasted a 0.3% rise in the core CPI.

Read also: DMO offers14.80% FGN JUL 2049 for Subscription in May 2021

Economists long-expected US inflation to surge as the country reopens with savings bolstered over the past year by roughly $5 trillion in stimulus packages. Treasury Secretary Larry Summers, argue trillions of dollars in pandemic-era stimulus risks an inflationary spiral similar to the debilitating price growth of the 1970s.

However, Federal Reserve Chair Jerome Powell, believes inflation will peak during reopening before fading back to about 2%.

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

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