Monday, November 14, 2016 2:19 PM /Research
Nigeria’s Consumer Price Index rises to 18.3% in October 2016. The rate which started the year 2016 at 9.60% in January has been increasing YoY to get to its current rate of 18.3% in October 2016.
Month-on-month review of the rate reveals that it went up by 2.23% in October 2016 while it has actually being slowing since May 2016 from 13.87% MoM growth recorded to 1.70% in September 2016.
As stated by NBS, Increases were recorded across almost all major divisions which contribute to the Headline Index. Communication and Restaurants and Hotels recorded the slowest pace of growth in October, growing at 5.7 percent and 9.4 percent year-on-year respectively.
Also, the highest increases were seen in Housing, Water, Electricity, Gas and Other Fuels as well as, fuels and lubricants for personal transport equipment and Education.
1. CPI Rises to 18.3% in October, 0.48% Higher Than 17.9% September Rate
2. Average Kerosene Price Increases to N292.73 in Oct’16 from N288.68 in Sep'16
3. Average Diesel Price Drops to N187.25 in Oct’16 from N192.69 in Sep'16
4. Average Petrol Price Drops to N145.9 in Oct'16 from N146.3 in Sep'16
5. October 2016 Inflation Rate to Increase Further to 18.17% - FSDH
6. Inflation to Maintain Its Upward Trajectory; to Rise to 18.2% - FDC
7. CPI Rises to 17.9% in September, 0.24% Higher Than 17.6% August Rate
8. Inflation Moving In The Right Direction
9. Headline Inflation projected to reach 18% - FDC
10. FSDH Expects September Inflation Rate to Increase further to 18.14%
11. Another welcome slowdown in month-on-month inflation