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Nairaland Forum / Nairaland / General / Business / Inflation Rate Declines To 15.37% In 2017 – Nbs (4724 Views)
Naira Declines To N1,510, N1,466.31 At Parallel, Official Markets / Inflation Increases By 11.37% In April 2019; 0.12% Higher Than March 2019 Rate / Nigeria: Inflation Rate Drops To 11.37% In January - NBS (2) (3) (4)
Inflation Rate Declines To 15.37% In 2017 – Nbs by voiceoftheupcom: 4:15am On Jan 17, 2018 |
INFLATION RATE DECLINES TO 15.37% IN 2017 – NBS source: http://www.eyesoflagos.com/2018/01/inflation-rate-declines-to-1537-in-2017.html The National Bureau of Statistics (NBS) has disclosed that the nation’s inflation rate slowed down to 15.37 per cent in 2017, making it the 11th consecutive decline year-on-year since January 2017. The Bureau, in its Consumer Price Index (CPI) December 2017 report, said inflation rate slowed by 0.53 per cent points, lower than 15.90 per cent rate recorded in November. A review of 2017 inflation rate showed that the rate opened at 18.72 per cent in January 2017 to close at 17.78 per cent in February. In March, inflation rate closed at 17.26 per cent, the second decline recorded in two months. The bureau had explained that growing prices in Housing, Water, Electricity, Gas and other Fuels, Education and Transport contributed to hike in inflation rate in the first quarter of 2017, following the unstable foreign exchange market. Economy indicator had revealed that, while economy growth declined, the rise in inflation was inevitable as falling exchange rate and rising foreign prices passed through directly to domestic prices. However, the inflation rate closed April at 17.24 per cent, 16.25 per cent in May 2017 and 16.10 per cent in June. In the third quarter, the inflation rate slowed marginally to 16.05 per cent in July, 16.01 per cent in August and 15.98 per cent in September. Towards the end of 2017, October to be precise, Inflation rate moved to 15.91 per cent in October and 15.90 per cent in November. According to Eyes Of Lagos investigation, The report released by NBS yesterday noted that on a month-on-month basis, the headline index increased by 0.59 per cent in December 2017, 0.19 per cent points higher from the rate of 0.78 per cent recorded in November. It said the percentage change in the average composite CPI for the twelve month period ending in December 2017 over the average of the CPI for the previous twelve month period was 16.50 percent, showing 0.26 percent point lower from 16.76 percent recorded in November 2017. The Central Bank of Nigeria (CBN) Mr. Godwin Emefiele at the Annual Bankers’ Dinner in November had said, “Monetary policy stance could change when the underlying fundamentals become supportive. If the pace of disinflation becomes adequate and we see inflation at predicted levels, I am very optimistic that MPC may begin to see strong justification for an easing of monetary policy, which may further accelerate the recovery process. “We believe that it may return to very low double digit or high single digit levels during the next year. Though the base effect had diminished, I expect that as the socio-economic factors that are driving food inflation are resolved the inertia therein would dissipate and the pace of headline disinflation will grow”. Analysts at InvestmentOne Research said December 2017 Inflation report may further confirm expectations for the rise in consumer prices to moderate in 2018, on the back of the high base effect of 2017 as well as the willingness of the present administration to curtail any potential increase in energy and food prices, given the negative impact it may have on re-election prospects. The InvestmentOne Research noted: “Our view remains that as we see headline inflation moderate towards the CBN’s target (11-12per cent) we are likely to see the Apex bank move to a more accommodative monetary policy. “Nonetheless, we see the on-going scarcity of PMS, which contributed to the +18per cent m/m increase in the average PMS price paid by consumers in December 2017 (c.N172/litre), as a potential downside risk to our outlook, as well as disruptions to activities in the Agriculture sector and election spending”. Elaborating on the implications, they said potential for a further decline in the rate of increase in consumer prices should be a positive for company performances in 2018, which should be a supportive of the equities market. While speaking in Lagos, Minister of Budget and National Planning Sen. Udoma Udo Udoma said, “There is so much potential in the country and it is this potential and the results of our initiatives that make the 2018 outlook so positive. “So, we are targeting a GDP growth rate of 3.5 per cent for this year and 7 per cent by 2020, and an inflation rate of 12.54 per cent for 2018 and single digit inflation of 9.9 per cent by 2020” 2 Likes
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Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by LionDeLeo: 5:24am On Jan 17, 2018 |
True. 3 Likes |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by Johnpsite: 7:17am On Jan 17, 2018 |
Ok |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by Nobody: 7:17am On Jan 17, 2018 |
h |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by naijapips04: 7:17am On Jan 17, 2018 |
![]() 7 Likes |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by Gkemz: 7:18am On Jan 17, 2018 |
What was it before this failure entered Aso rock. 7% risen to 15% 8 Likes |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by Somtitous: 7:18am On Jan 17, 2018 |
When will it be reflected in pre-2015 prices at least ![]() 2019 come quick, let's root out this blood sucking government out 8 Likes |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by hisgrace090: 7:18am On Jan 17, 2018 |
Why is the dollar not coming down? 1 Like 1 Share |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by yanshDoctor: 7:19am On Jan 17, 2018 |
lol. things are still expensive. as at today N361 to $1. the decline did not reflect on the dollar oh. tecno and infinix phones that should have been N20,000 are now selling for N36,000 just because of inflation. 7 Likes 1 Share |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by AnotherZik: 7:20am On Jan 17, 2018 |
voiceoftheupcom: Nigerians grudgingly agree my govt is doing its best ― Buhari President Muhammadu Buhari has observed that Nigerians are grudgingly accepting that his administration is doing its best given that he took over from a party that had the most resources in its 16-year reign. Read more: https://newsworth.ng/nigerians-grudgingly-agree-govt-best-%e2%80%95-buhari/ 2 Likes |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by ifyan(m): 7:20am On Jan 17, 2018 |
Believe this nonsense at your on gain. Was is not the beginning of this year that price of commodities surg upward. Hmm election is fast at the corner and the government of the day doesn't have a meaningful project or work or thing visible, tangible etc that they can boost of to the electorate . No wonder some suspicious funny development are on very fast lane this period. If you recall there was a post about this government started and ended within it term in your state and 98% commented none and there a comment from someone that comment about Lagos-ibadan expresse way. That according to his friend, they work very well to complete the work for election. NBS we are not interested on what's on paper rather what's on ground. Nigerians be wise 7 Likes |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by DjAndroid: 7:25am On Jan 17, 2018 |
BUT ALL THE PRICES THAT WENT UP ARE STILL UP |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by oxon(m): 7:25am On Jan 17, 2018 |
just one year remaining ... 4 Likes 1 Share |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by puma90: 7:25am On Jan 17, 2018 |
apc good news be like 80 pple were killed by heardsmen in january but it has reduce to 20 pple in febuary due to our improve in security system.i min wat d f**ck 10 Likes 1 Share |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by oluFELAxy(m): 7:29am On Jan 17, 2018 |
. |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by UsefulTunde(m): 7:31am On Jan 17, 2018 |
This morning na soso good news. Nice 1 Like |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by eezeribe(m): 7:32am On Jan 17, 2018 |
When it drops to a single digit,then we can read the news... I have never seen a government that celebrates mediocrity like this APC led federal government... 4 Likes 1 Share |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by Wiseandtrue(f): 7:33am On Jan 17, 2018 |
Chai! inflation is only declining on media oooooo ![]() ![]() ![]() This Buhari regime no go kill person with propangada ![]() As at yesterday: Fuel is still sold for N145 and above as against N87 this regime met A bag of 50kg rice is still sold for N16,000 as against N8000 A tin of milk is sold for N200 as against N85 A rubber paint of bean now sells for N1800 as against N500 A rubber paint of garri is N600-N800 AS against N250 To refill gas, you cough out N3800, as against N2700 The biggest tubber of yam for market that time no dey pass N400 now na N1000 and above Let me not talk of transportation Government might be trying to reduce these things but it's not reflecting yet! They should stop lying to Nigerians! 4 Likes 3 Shares |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by DieBuhari: 7:33am On Jan 17, 2018 |
What was the rate in 2014? |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by Balkan(m): 7:33am On Jan 17, 2018 |
Propaganda can not save you from leaving Aso rock next year. Until you put the price of fuel, food items, dollar back to where you met them, You will never be considered for second term 2 Likes |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by jericco1(m): 7:35am On Jan 17, 2018 |
imagine, we've failed. not clearly reflective of the true state. cos things are unbecomingly expensive. |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by Nobody: 7:35am On Jan 17, 2018 |
I can't see the effect of this news in the market |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by SLIDEwaxie(m): 7:39am On Jan 17, 2018 |
Gkemz:inflation was 7% in 2015? Do you even think before you talk at all? 3 Likes |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by Ijaya123: 7:53am On Jan 17, 2018 |
eezeribe: Has Nigerian ever had single digit inflation rate? |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by Ijaya123: 7:53am On Jan 17, 2018 |
eezeribe: Has Nigerian ever had single digit inflation rate? |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by PDPGuy: 7:56am On Jan 17, 2018 |
The inflation rate is still unacceptably high. Ideally, a sound economy should have an inflation rate in the single digits i.e. not more than 6-7%. |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by Fesomu(m): 7:56am On Jan 17, 2018 |
Enemies of state over to u.. as usual na lie abi.. only bad news are true |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by Ijaya123: 7:58am On Jan 17, 2018 |
Gkemz: 7% inflation? Playing opposition shouldn't amount to lying and propaganda. 3 Likes |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by amazon14: 8:14am On Jan 17, 2018 |
Inflation reduction for where? When I dey pay more than double for transport. Food stock is still very high. It will better for this government to shut their month instead getting me angry with their idiotic statistics 2 Likes 1 Share |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by zabuur: 8:21am On Jan 17, 2018 |
naijapips04: People like you don't know what economy is all about. You want miracle. OK, please give us a solution where the decline will be drastic 2 Likes 1 Share |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by adexeli(m): 8:26am On Jan 17, 2018 |
All these things only manifest on paper. There's no improvement anywhere. Come 2019 someone else should take over. Lets keep rotating until we finally get it right! 1 Like 1 Share |
Re: Inflation Rate Declines To 15.37% In 2017 – Nbs by EarthXmetahuman: 8:27am On Jan 17, 2018 |
this is how you will know a government has failed. when they start throwing stats around. same thing gej did before we threw his ass back to otuoke. people dont need stat to know things are getting better. dollar was 365 last and same thing this year. i bought petrol 145 last year, now im buying at 200 and more i bought rice 13k last year and now it is 13500 and probably more somewhere. yet these ediots are telling us inflation is reducing. on which item exactly? |
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