What is Nigeria inflation rate?

Nigeria inflation rate for 2019 was 11.40%, a 0.7% decline from 2018. Nigeria inflation rate for 2018 was 12.09%, a 4.43% decline from 2017. Nigeria inflation rate for 2017 was 16.52%, a 0.85% increase from 2016. Nigeria inflation rate for 2016 was 15.68%, a 6.67% increase from 2015.

What is the current inflation rate in Nigeria 2020?

Nigeria: Inflation rate from 2006 to 2026 (compared to the previous year)

Characteristic Inflation rate compared to previous year
2020* 13.25%
2019 11.4%
2018 12.09%
2017 16.5%

What is the inflation rate of 2020?

Projected annual inflation rate in the United States from 2010 to 2026*

Characteristic Inflation rate
2020 1.25%
2019 1.81%
2018 2.44%
2017 2.14%

What is the inflation rate in Nigeria 2021?

Nigeria’s inflation rate stood at 18.12% in April 2021, indicating the first decline in headline inflation in about 20 months. This is contained in the Consumer Price Index report, recently released by the National Bureau of Statistics (NBS).

What is inflation in Nigeria?

Inflation Rate in Nigeria averaged 12.52 percent from 1996 until 2021, reaching an all time high of 47.56 percent in January of 1996 and a record low of -2.49 percent in January of 2000.

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What is the unemployment rate in Nigeria 2020?

In 2020, the unemployment rate in Nigeria was at approximately 7.96 percent.

Nigeria: Unemployment rate from 1999 to 2020.

Characteristic Unemployment rate
2020 7.96%
2019 8.1%
2018 8.24%
2017 8.39%

What is our inflation rate today?

For example, the rate of inflation in 2020 was 1.4%. The last column, “Ave,” shows the average inflation rate for each year using CPI data, which was 1.2% in 2020.

Current US Inflation Rates: 2000-2021.

Element Annual Inflation Rate
2017 2.1
2018 1.9
2019 2.3
2020 1.4

Is inflation going up 2020?

After dipping to 2.5% at the end of 2020, consumers now expect inflation to rise to 3.3%, the highest level in about six years. Higher inflation isn’t necessarily a bad thing for average Americans.

What is China’s inflation rate?

Projections by the IMF published in April 2021 expect the inflation rate to reach about 1.2 percent in 2021. The monthly inflation rate in China remained on a low level recently.

Inflation rate in China from 2010 to 2020 with forecasts until 2026.

Characteristic Year-on-year change
2019 2.9%
2018 2.11%
2017 1.56%
2016 2%

What is a bad inflation rate?

Too much inflation is generally considered bad for an economy, while too little inflation is also considered harmful. Many economists advocate for a middle-ground of low to moderate inflation, of around 2% per year.

Is Nigeria in a recession?

Nigeria Economy Exits Recession With GDP Growth in 4Q, Contraction in 2020 – Bloomberg.

What is Nigeria interest rate?

Though Nigeria interest rate spread fluctuated substantially in recent years, it tended to increase through 1970 – 2019 period ending at 6.48 % in 2019.

What is Nigeria interest rate spread?

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Date Value Change, %
2019 6.48 -10.09 %
2018 7.20 -9.95 %
2017 8.00 -14.66 %
2016 9.37 21.71 %

What are the major causes of inflation in Nigeria?

Causes of inflation in Nigeria:

  • Civil Unrest. Nigeria has been struggling against insurgency since the beginning of the democratic era in 1999. …
  • Government Economic Policies. …
  • Devaluation of the Naira. …
  • Increased Wages. …
  • The price of Fuel. …
  • Reduction in Productivity. …
  • Higher Taxes. …
  • Expectation of Inflation.

What is food inflation in Nigeria?

Food inflation rose to 22.95% in March, caused by wide-ranging price increases across items such as cereals, yam, meat, fish and fruits. Those soaring costs have been in part blamed on a worsening conflict between farmers and herders in Nigeria’s agriculture belt that Buhari has struggled to quash.

Is inflation calculated monthly?

CPI numbers are typically measured monthly, and with a significant lag, making them unsuitable for policy use. India uses changes in the CPI to measure its rate of inflation. The WPI measures the price of a representative basket of wholesale goods.

Hai Afrika!