• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Reports Banking/Finance

Nigerian Inflation Quickens for the First Time in Three Months

10 months ago
in Banking/Finance, Business, NRTV, Reports
2 min read
0 0
0
143
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Public Transport Fares to Rise by 20% From August 8 

Shipping Giant, Maersk ends Direct US Trade Route to Africa’s Largest Economy

Africa’s Biggest Stock Exchange Considers Extending Trading to 24 Hours

Nigerian Inflation Quickens for the First Time in Three Months

Nigeria’s annual inflation rate climbed for the first time in three months in September, stoked by a spike in gasoline prices and severe floods in food-producing areas.
The EU will loan Ukraine €35 billion, repaid through interest on frozen Russian assets. This novel approach aims to fund Ukraine’s urgent infrastructure and defense Focus on Profit Updates from Major Banks, Taiwan Semiconductor, Netflix, and More; Market Attention on Columbus Day, Economic Data, Retail Sales, and Fedspeak during Ongoing Earnings Season

Consumer prices rose 32.7% from 32.2% in August, the National Bureau of Statistics said in a statement published on its website on Tuesday. The median estimate of nine economists in a Bloomberg survey was 32.4%.

Food inflation quickened to 37.8% in September from 37.5% a month earlier. Core price growth, which excludes agricultural produce and energy, slowed to 27.4% from 27.6%.The Central Bank of Nigeria lifted its benchmark interest rate by 50 basis points last month to 27.25%, in a preemptive move to tame the impact of the price pressures on inflation and may hike again when the monetary policy committee meets Nov. 25-26.

Governor Olayemi Cardoso said at last month’s meeting that “efforts must be sustained” to achieve a positive inflation-adjusted interest rate to attract investment into the economy which would help support the naira.

Still, Bismarck Rewane, chief executive officer of consultancy Financial Derivatives Co., warned ahead of the data release that while “the upward reversal in the inflation trend will be a major consideration at the MPC meeting in November,” it may opt to maintain the status quo. “This is to prevent the economy from overheating and a possible recession.”

 

 

Continue Reading
Tags: EuroNigerian Inflation Quickens for the First Time in Three Months

Leave a Reply Cancel reply

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

I agree to the Terms & Conditions and Privacy Policy.

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

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
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.