nigeria inflation rate 2019
Food prices rose 15.03 percent, the most since March 2018, amid the coronavirus crisis. PAYMENTS SYSTEM . Inflation Rate YoY
On a monthly basis, consumer prices inched up 1.17%, the most since June 2018, after increasing 1.02% in the previous month.
Core inflation rose from 9.98% to 10.13% while food inflation increased to … Though Nigeria inflation rate fluctuated substantially in recent years, it tended to decrease through 2000 - 2019 period ending at 11.4 % in 2019. TEForecast
Nigeria's annual inflation rate rose for a tenth straight month to 12.56% in June of 2020 from 12.40% in the prior month. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.
The index weights are based on expenditures of both urban and rural households in the 36 states.
The annual inflation rate in Nigeria rose for the seventh straight month to 12.26% in March of 2020 from 12.20% in the previous month. It was the highest rate since April of 2018, due to the lingering effects of the global pandemic. This is 0.16% points higher than the rate recorded in May 2020 (12.40%). It was the highest rate since March of 2018 as food prices surged 15.18%, the most in over two years, amid disruptions in the supply of products as farming activities are yet to recover from the impact of the nationwide lockdown and movements restrictions, which blocked food producers from access to the farms.
However, a well-managed exchange rate is not enough by itself.
The payments system plays a very crucial role in any economy, being the channel through which financial resources flow from one segment of the economy to the other. As we have the inflation rate for December 2019 today, which is announced as 11.98%, we can say that the situation keeps its urgency.
Annual core inflation, which excludes farm produce, hit 9.98 percent in April, the highest since August 2018.The annual inflation rate in Nigeria rose for the seventh straight month to 12.26% in March of 2020 from 12.20% in the previous month. Prices also increased sharply for health (10.66% vs 10.27%), especially felt in urban areas (11.29%) which concentrate the bulk of Covid-19 cases.
Additional upward pressure came from clothing and footwear (10.33 percent vs 10.21 percent), transport (9.78 percent vs 9.49 percent), furnishings and household equipment maintenance (9.64 percent vs 9.50 percent) and education (9.16 percent vs 9.02 percent). It was the highest inflation rate since April of 2018, largely driven by the effects of the border closure and the new VAT tax rate.
Inflation Rate YoY
Taux D'Inflation (Annuel)
Inflation Rate YoY
Nigeria Inflation Rate (Monthly) The Nigeria Consumer Price Index (CPI) which measures inflation, increased by 12.56% (year-on-year) in June 2020.
Taux D'Inflation (Annuel)
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Taux D'Inflation (Annuel)
Food inflation hit an over two-year high of 15.04%, amid supply chain disruptions caused by lockdown restrictions.
Inflation also remained elevated for clothing & footwear (10.21% vs 10.14%); miscellaneous goods & services (9.62% vs 9.45%); health (9.99% vs 9.94%); housing & utilities (7.76% vs 7.81%); restaurants & hotels (8.84% vs 8.66%); transport (9.49% vs 9.43%); alcoholic beverages, tobacco & Kola (9.91% vs 9.85%) and furnishings (9.50% vs 9.39%). Other significant upward pressure came from the costs of transport (10.09% vs 9.78%); clothing & footwear (10.39% vs 10.33%) and miscellaneous goods & services (10.03% vs 9.84%). Inflation Rate YoY
Nigeria inflation rate for 2019 was 11.40%, a 0.7% decline from 2018.
In 2019, inflation rate for Nigeria was 11.4 %. Nigeria inflation rate … Education represents 3.9 percent of total weight, Health 3 percent, Miscellaneous Goods and Services 1.7 percent and Restaurants and Hotels 1.2 percent.
Though Nigeria inflation rate fluctuated substantially in recent years, it tended to decrease through 2000 - 2019 period ending at 11.4 % in 2019. Nigeria's annual inflation rate rose to 12.34 percent in April 2020, the highest since April 2018, from 12.26 percent in the previous month. In addition, housing and utilities inflation remained unchanged at 7.76 percent. Nigeria Tarifs Dernier Précédent Le plus élevé Le Plus Bas Unité; Taux d'inflation 12.56: 12.40: 47.56-2.49: Pour Cent
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