Monday, July 14, 2025
23.2 C
Lagos

Inflation Climbs to 22-Month High of 12.2%

The Consumer Price Index report released yesterday shows that headline inflation increased to a 22-month high of 12.2% Y-o-Y in February 2020, from 12.1% in the previous month.

A report by Afrinvest Research says the marginal rise in inflation suggests that the recent VAT increase is yet to be fully captured.

Similarly, core inflation rose to 9.4% from 9.3% and food inflation was higher at 14.9% from 14.85%. The broad-based rise in inflation was despite a general moderation on M-o-M basis for the first time since August 2019.
Afrinvest says the M-o-M moderation in consumer prices in February reflects the thinning-out effect of festive season purchases and land border closure. However, we believe this would be short-lived once consumer prices fully reflect the recent VAT increase.

‘In addition, as a fallout from the effects of the COVID-19 pandemic, we expect exchange rate pressures and supply chain disruptions with trade partners to impact domestic consumer prices in the coming months.’

spot_img
spot_img
spot_img

Hot this week

NAICOM, Insurance Industry Mourn Buhari

It is with profound sadness that we received the...

Polaris Bank Partners Woodhall Capital, UK, Lagos State in ₦1.5bn Creative Economy Fund

L-R- Abimbola Ozomah, Executive Director, Polaris Bank; Mojisola Hunponu-Wusu,...

Heirs Insurance Group Reports N61bn GWP in 2024, an Increase of 70%

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Stanbic IBTC Holdings Meets CBN’s N200bn Recapitalisation Policy

In a landmark achievement that highlights the steadfast confidence...

SanlamAllianz Partners NCRIB on 2025 Empowerment Series

Dr. Abosede Adegbite, Consultant, Family Physician; Tope Adaramola, Executive...

Topics

Dangote Cement Controls 65% of Nigerian Market

Leading pan African cement manufacturer, Dangote Cement has maintained...

NHEA 2025 Announces PharmAccess SafeCare Award Categories, Unveils Nominees

Njide Ndili Country Director PharmAccess Foundation The Nigerian Healthcare Excellence Award (NHEA)...

CBN Debunks Report on BDC Recapitalisation Deadline

The Central Bank of Nigeria (CBN) has debunked a...

How to Tap into Multi-Million Short-Let Real Estate Market

By Dennis Isong For a long time, most investors were...

Law Union & Rock Insurance Reports N4.2bn Premium in 2017

Law Union & Rock Insurance Plc, one of the...

Africa, ME Banks Spent $13bn on ICT in 2019

  Africa and Middle East’s banking and finance industry spent...

NNPC, Dangote Refinery Ink 10-Year Gas Deal to Boost Local Production, Industrial Growth

L-R: Managing Director, Nigeria Gas Marketing Limited (NGML), Barrister...
spot_img

Related Articles

Popular Categories

spot_imgspot_img