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Inflation Growth Defies All CBN MPC Decisions

Proshare

Thursday, November 17, 2016 3.20 pm / TheAnalyst 

The unimpressive pattern in Nigeria’s inflation figures continues to reflect ineffectiveness of the monetary policy decisions by the CBN. The monetary policy of the CBN in recent times has been largely aimed at curbing inflation growth, which remained resilient.

Inflation figure moved up to 18.3% for the month of October 2016 from 17.9% recorded in the previous of September. The rate maintained strong northward trend, with a year-start of 9.60% to stand at 18.3% for the month of October- this suggests an average of 14.2% inflation rate so far in the year.

As trend analysis indicates, the growth in Inflation seems to have defied the monetary policy measures taken by the CBN in the last four (4) MPC meetings in particularly, which were taken at the expense of economic growth.

We believe it is time for the CBN to have a change of mind towards tightening measures as a means of curbing inflation in a recessionary environment.




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CBN Communique

1.       CBN Communiqu' No. 109 of the MPC Meeting - Sep 19-20, 2016

2.      CBN Communiqué No. 108 of the MPC Meeting – July 25-26, 2016

3.      CBN Communiqué No. 107 of the MPC Meeting – May 23-24, 2016

4.      CBN Communiqué No. 106 of the MPC Meeting – Mar 21-22, 2016

5.      CBN Communiqué No. 105 of the MPC Meeting – Jan 25-26, 2016

6.      CBN Communiqué No. 104 of the MPC Meeting – Nov 23-24, 2015

7.      CBN Communiqué No. 103 of the MPC Meeting – Sep 21-22, 2015

8.     CBN Communique No. 102: Monetary Policy Committee Meeting of July 23 and 24, 2015

9.      CBN Communiqué No. 101 of the MPC Meeting – May 18-19, 2015

10.  Central Bank of Nigeria Communiqué No. 100 of the MPC Meeting – Mar 23-24, 2015

11.   Central Bank of Nigeria Communique No. 99 of the MPC Meeting – Jan 19-20, 2015

12.  CBN Communiqué No. 98 of the Monetary Policy Committee ... – Nov 25, 2014

13.  CBN Communiqué No. 97 of the Monetary Policy Committee ... – Sep 19, 2014

14.  CBN Communique No. 96 of the Monetary Policy ... - Proshare – Jul 22, 2014

15.   Central Bank of Nigeria Communique No 95 May ... - Proshare – May 20, 2014

16.  Central Bank of Nigeria Communiqué No. 94 of the Monetary Policy Committee Meeting, March 24-25, 2014

17.   Central Bank of Nigeria Communiqué No. 93 of the Monetary Policy Committee Meeting, Jan 24-25, 2014


Personal Statements of MPC Members

18.  Personal Statements by Members at the 108 MPC Meeting of July 25 and 26 2016

19.  Personal Statement of Members at the 107 MPC Meeting of May 23-24, 2016

20. Personal Statements by Members at the 106 Monetary Policy Committee Meeting of March 21-22, 2016

21.  Personal Statements of Members at the 105 MPC Meeting of Jan. 25-26, 2016

22. Personal Statements of Members at the 103 MPC Meeting of Sep. 21-22, 2015

23. Personal Statements of Members at the 101 meeting of the MPC

Consumer Price Index
24. Nigeria's Consumer Price Index Rises to 18.3% in October 2016
25.  CPI Rises to 18.3% in October, 0.48% Higher Than 17.9% September Rate
26. CPI Rises to 17.9% in September, 0.24% Higher Than 17.6% August Rate
27.  CPI Rises to 17.1% in July, 0.6% Higher Than 16.5% June Rate
28. CPI Rises to 16.5% in June, 0.9% Higher Than 15.6% May Rate
29. CPI Rises to 15.6% in May, 1.9% Higher Than 13.7% April Rate
30. CPI Rises to 13.7% in April; 0.9% points Higher Than 12.8% March Rate
31.  CPI Rises to 12.8% in March; 1.4% Higher Than February Rate
32. Nigeria’s Inflation Rate Rises to Double Digit; Increases by 11.4% YoY in February 2016
33. CPI Remains Unchanged at 9.6% in Jan'16; Food & Non-Alcoholic Beverages Increase at a Faster Pace 

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