Saturday, March 24, 2018 08:00 AM / Proshare
From the Editor’s Desk
Economic agents and policy makers are more accustomed to the consumer price index (CPI) as a gauge of price changes in the economy, ahead of the implicit price GDP deflator (IPGD). Moreover the prompt computation of the indicator coupled with its ability to capture price movement in goods and services certainly favours the Consumer price indexes ahead of the implicit price deflator.
However, it has become inevitable to beam the light on the implicit price deflator, as it captures the price changes in the economy; especially at this point in time where there is still a breakdown between output and the human index.
At the end of 2017, the Mining and Quarrying sector experienced the highest price movement as the implicit price deflator shifted outwards by 0.32 from 110.38pts to 148pts, more akin with the changes in oil prices. Price movement in the Manufacturing sector also rose by 0.16 to move from 135pts to 157.52pts.
Fig 1: Implicit Price Deflator
In the same vein the Agricultural sector experienced price movements as it rose from 142.77pts to 157pts. Price movement rose by 0.08 as it reflected the supply constrains to the sector.
However, the electricity sector which experienced the highest price movement in 2016 experienced a more subtle rise as it rose from 226.57pts to 247.52pts at the end of 2017. Sectors like accommodation which had earlier shed price in 2016, resumed an uptick in price movement in 2017.
Even, though sectors such as public admin, education, human health and other services had negative growth, price movement was mild. Holistically, the implicit price GDP deflator rose from 149pts to 166.02pts at the end of 2017, thereby increasing by 0.11. Obviously, the implicit price deflator largely retained its earlier pattern at the end of 2017, thereby weighing heavily on the national account, as most sectors were pressed by rising prices. This further explains the breakdown between output and human index.
Monday, March 26, 2018
The Chartered Institute of Bankers of Nigeria (CIBN) in collaboration with Nigeria Inter-Bank Settlement Sysyem Plc (NIBSS) will commence a programme themed “Legal and Regulatory Framework of Nigeria Payments Systems”; while the 2nd #MadeInNigeria Brands Conference will hold today in Lagos.
The South West Regional E-Commerce Summit & Expo Ibadan will commence today, while the Access Bank Investor Conference Call holds today.
Tuesday, March 27, 2018
Africa Prudential Plc and Neimeth Phamaceuticals Plc will hold their Annual General Meeting today in Lagos, while the Nigeria Agro Food Exhibitions and the Africa Islamic Finance Forum commences today; as well as the third edition of the Point of Sale (PoS) Innovation Summit.
SLC Resources Limited in conjunction with the Nigerian-British Chamber of Commerce, will today host the first West Africa Trade & Investment Forum (WATIF) Conference and Exhibition with the theme: “Enhancing Collaboration For Regional Development and Economic Impact”.
The Lagos Business School will commence its training on “Building and Leading the 21st Century Team” today, just as the Center for Ethics and Sustainable Development will commences its Sustainable Infrastructure Delivery Colloquium today in Lagos.
Wednesday, March 28, 2018
The Nigerian American Chamber of Commerce will hold its March Breakfast Meeting today in Lagos, while Medview Airline Plc holds its Annual General Meeting. Guaranty Trust Bank Plc will be marked down today haven declared a dividend of N2.40k.
The 3rd Convocation and Prize Award Ceremony for Courteville’s Middle Management Trainees will hold today in Lagos, while Professor Segun Ajibola, President of the Chartered Institute of Bankers of Nigeria (CIBN) will today launch his books on Nigerian Banks and the Nigerian Economy.
The Nigerian Association of Petroleum Explorationists (NAPE) will today hold its March 2018 Technical Presentation titled “Perspectives of the Tecto-Sedimentary Evolution of the Niger Delta” in Lagos, while the 7th International Conference On Infrastructure Development In Africa commences today in Lagos State Polytechnic.
Proudly Ogun State Gateway Connect Trade Show will commence today in Abeokuta, while the International Conference on Education for Sustainable Development (ICESD) commences in Abakaliki.
Thursday, March 29, 2018
Stanbic IBTC Holdings Plc will be marked down today haven declared a dividend of N0.50.
DCSL Corporate Services Limited and the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) will today hold the 3rd Annual DCSL/ICSAN Corporate Governance Masterclass themed “Board Leadership - Emerging Trends & Key Focus Areas”, while Data Lead Africa commences its training on R and SPSS.
The 2nd Nigerian Brands Canival and Trade Exhibition will commence today in Lagos.
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