January 15, 2024/FBNQuest Research According to the data published by the CBN, Nigeria’s gross official reserves decreased by USD91.6m to USD32.9bn in Dec ’23. This decline suggests the country’s gross external reserves fell by approximately USD4.2bn in 2023, indicating an average monthly depletion rate of -USD348m. Our chart below shows […]
OPINION/EDITORIAL
Headline Inflation Expands by 72bps to 28.92% Y/y in December 2023
January 15, 2024/Cordros Update Nigeria’s headline inflation grew stronger by 72bps to 28.92% y/y in December (November: 28.20% y/y). The outturn is 90bps and 32bps higher than Cordros’ (28.02% y/y) and Bloomberg’s median consensus (28.60% y/y) estimates, respectively. Similarly, on a month-on-month basis, headline inflation rose by 20bps to 2.29% […]
Top 10 Blogs of 2023 Unpack Global Economy, Inflation, Debt, Trade and Asia
(Credit: Adobe Stock and IMF) January 15, 2024/IMFBlog By Jeff Kearns The global economy showed signs of resilience at the beginning of this year as central bank campaigns to contain inflation started to pay off and China scrapped pandemic restrictions. While the recovery endured, price increases proved persistent and the outlook for world […]
