Business Inflation

LCCI tasks FG on inflation, others

Reading Time: 2 minutes Image Credits: peeterv/Getty Images. The Lagos Chamber of Commerce and Industry (LCCI) has called for better management of the country’s inflation, foreign exchange(FX) and debt portfolio indexes. LCCI President, Dr Michael Olawale-Cole, made the call during the Chamber’s 2022 first quarter press conference on Tuesday in Lagos. He said better management would improve economical outcomes. Read More…

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Inflation down to lowest in more than five years in November

Reading Time: 2 minutes Image Credits: NBS. It is still double-digit inflation but in November, Nigeria experienced its lowest inflation climb in more than five years. In November, eased by 0.59 percentage points to 15.40% in November. According to Simon Harry of the Nigerian Bureau of Statistics (NBS), “Inflation has continued its declining trend.” Last month, Finance Minister Zainab Read More…

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Analysis: Food price spikes see inflation rear its head in Nigeria and emerging markets

Reading Time: 4 minutes Image Credits: Unsplash/Iñigo De la Maza, REUTERS. For Cleanne Brito Machado, like millions of people in developing countries around the world, shopping for staple foods such as rice, beans, oil or potatoes now means making hard choices. “The shopping cart is getting much smaller and we’re paying much more,” said the 41-year old, who works Read More…

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Kerosene price increases

Reading Time: < 1 minutes Image Credits: Business Standard. The average price per litre paid by consumers for National Household Kerosene increased to N353.38 in November from N352.93 in October, the National Bureau of Statistics (NBS) says. The Bureau made this known in its “National Household Kerosene Price Watch (November 2020)’’ obtained from its website on Thursday in Abuja. According Read More…

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Lagos Chamber explains mounting inflation

Reading Time: 2 minutes Image Credits: Getty Images. The Lagos Chamber of Commerce and Industry (LCCI) says the mounting  inflationary pressure reported in the November 2020  was expected, given the prevailing economic conditions and escalating cost environment. Dr Muda Yusuf, Director-General, LCCI made the assertion in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos. Read More…

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LCCI advises CBN on tackling inflation

Reading Time: 2 minutes Image Credits: artsandculture.google.com. The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) to address the supply side variables impacting domestic prices.Dr Muda Yusuf, Director-General, LCCI, spoke in an interview with the News Agency of Nigeria (NAN) in reaction to the October 2020 inflation rate. The News Agency of Read More…

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Inflation rises by 0.49% in September- NBS

Reading Time: 3 minutes Image Credits: CRISTINA ALDEHUELA/Getty Images . The National Bureau of Statistics (NBS) says inflation rate in September rose by 0.49 per cent to 13.71 per cent from 13.22 per cent recorded in August. NBS made this known in its Consumer Price Index (CPI) for September released on Thursday in Abuja. It said the increase in Read More…