December 18, 2020/Cowry Asset Report

ECONOMY: November Inflation Rate Climbs to 14.89%; Senate Passes 2021-2023 MTEF/FSP…
Recently released Consumer Price Index data by the National Bureau of Statistics showed that headline Inflation for November  rose for the 15th consecutive month to 14.89% (from 14.23% printed in October).

The northward movement in the headline inflation was chiefly driven by rising food inflation to 18.30% (from 17.38% in October). Heightened insecurity in the food producing states, higher logistics cost, lingering effects of Covid-19 pandemic and yuletide season demand exacerbated the food inflationary pressures for November.

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