Wednesday, January 17, 2018 /08:39AM / FDC
inflation declined sharply in the month of December to 15.37%. This will be the
11th consecutive decline in YoY headline inflation in 2017. Also,
month-on-month (MoM) inflation declined to 0.59% (7.31% annualized) from 0.78%
(9.77% annualized) in November.
This steep drop in MoM
inflation can be attributed to a massive increase in aggregate output in the
final months of 2017.
According to the NBS, the
transport index remained flat despite the fuel scarcity experienced in
December. This may be due to the delayed transmission effect of the shortages
on the general price level.
The steep decline in
inflation will mount immense pressure on the committee to take an accommodative
stance on the MPR, as it will be difficult for any hawk in the MPC to argue
against easing rates at this time.
attached bulletin, the FDC Think-Tank analyses inflationary movements in
December and the likely policy implications.
- Nigeria is the nation with the 5th largest agric
output in the world
- Nigeria is the Largest Producer of Tomatoes in
Sub-Saharan Africa and 13th in the World
- Nigeria is Now the World’s Second Largest Producer
- Consumers Are Bracing Themselves for a Challenging
- Nigeria is a Fringe Player in Global Rice Production
- Growing Global Supplies to Keep Prices of Grains
- Oil Prices Slipped 0.26% in Sympathy with A 5% Slump
in Copper Prices
- Naira Strengthened In October to N363 - $ as Food
Inflation Jumped to 15.34%
- Nigeria Produced a Meager 348,000 Tonnes of Cotton