August 15, 2023/Coronation Report The NBS has released its July inflation report to show – Headline rate 24.08% y/y (22.79% June); Core rate 20.47% y/y (20.06%); and Food rate 26.98% y/y (25.25%). July headline inflation increased by +129bps (when compared with the previous month) to 24.08% y/y. The significant uptick in headline […]
Updates
Nigeria July 2023 CPI: Consumer Prices to Remain under Pressure in the Short Term
August 15, 2023/Cordros Report Headline inflation remains elevated in July as the haunting currency devaluation, higher PMS prices, and food shortages continue to pressure consumer prices. Accordingly, the Consumer Price Index (CPI) data reported by the National Bureau of Statistics (NBS) revealed that consumer prices increased by 129bps to 24.08% y/y […]
Rapid Response: Inflation Increases by 129bps to 24.08% y/y in July
August 15, 2023/Cordros Update Nigeria’s headline inflation maintained its uptrend, rising by 129bps to 24.08% y/y in July (June: 22.79% y/y). The outturn is 59bps and 48bps higher than Cordros’ estimate (23.49% y/y) and Bloomberg’s median consensus estimate (23.60% y/y). Similarly, on a month-on-month basis, headline inflation rose by 76bps […]
