• About Us
  • Advertise Route
Thursday, February 2, 2023
  • Login
OloriSuperGal
  • News
    • Business
    • Features
    • Opinions
  • Entertainment
    • Showbiz
    • Music
    • Movies
    • Interviews
  • Lifestyle
    • Fashion & Beauty
    • Celebrity
    • Travel
  • Sports
  • Events
  • OSG ZA
No Result
View All Result
  • News
    • Business
    • Features
    • Opinions
  • Entertainment
    • Showbiz
    • Music
    • Movies
    • Interviews
  • Lifestyle
    • Fashion & Beauty
    • Celebrity
    • Travel
  • Sports
  • Events
  • OSG ZA
No Result
View All Result
OloriSuperGal
No Result
View All Result

19.6% Inflation: More People Become Poor, Experts Warn

by OSG MEDIA
August 16, 2022
in News
Reading Time: 1 min read
0 0
0
Worry As Nigeria’s Inflation Rate Rises To 18.60 Percent
Share on FacebookShare on Twitter

Nigeria’s inflation rate has opposed monetary tightening, hitting 19.64 percent in July, a level not seen in over a one-and-a-half decade.

4 in every 10 Nigerians, totalling 82.9 million, live in poverty —NBS -  Ripples Nigeria

?This bombshell was dropped yesterday by the Statistician-General of the Federation and Chief Executive Officer, National Bureau of Statistics (NBS), Prince Semiu Adeniran, when he published the Consumer Price Index (CPI) for July 2022 in Abuja.

Though experts claim the economy may still be going through the time lag required before the effect of monetary tightening measures is felt in decelerating inflation, others advised that the supply side factors driving inflation are still active, hence the future could be scarier.

Last month, the Monetary Policy Committee (MPC) boosted the bench interest rate by 100 basis points to 14 percent, the highest in recent memory. It had previously broken a two and half-year curse by increasing the MPR with the same magnitude to rein in inflation. Still, the inflation rate continues to accelerate.

The last time the country witnessed or exceeded a 19 percent headline inflation was 2005 when the figure spiked from a single digit in January to a peak of 28.2 percent in August.

ADVERTISEMENT
ADVERTISEMENT
Tags: inflationMonetary tighteningNigeria
ShareTweetSend
Previous Post

Police confirm [email protected] of Nasarawa State commissioner

Next Post

[email protected] Kingpin, Wadume Bags Seven Years Imprisonment

OSG MEDIA

Next Post
Kidn@pp Kingpin, Wadume Bags Seven Years Imprisonment

[email protected] Kingpin, Wadume Bags Seven Years Imprisonment

ADVERTISEMENT

Popular

  • First in Africa, Starlink now active in Nigeria

    First in Africa, Starlink now active in Nigeria

    0 shares
    Share 0 Tweet 0
  • Prof. Omotola, Ex-UNILAG VC Immortalised With N5m Endowment Law Prizes

    0 shares
    Share 0 Tweet 0
  • Dancer, Korra Obidi Launches Her First Book, Korra And The Last Seed Of Odinani

    0 shares
    Share 0 Tweet 0
  • Our target is to generate five million votes for Peter Obi – Afenifere

    0 shares
    Share 0 Tweet 0
  • Elements in Presidential Villa working against Tinubu – El-Rufai

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT

OSG is focused on creative digital media and consulting on groundbreaking and appealing content.

© 2022 OSG-OloriSuperGal All Rights Reserved

No Result
View All Result
  • News
    • Business
    • Features
    • Opinions
  • Entertainment
    • Showbiz
    • Music
    • Movies
    • Interviews
  • Lifestyle
    • Fashion & Beauty
    • Celebrity
    • Travel
  • Sports
  • Events
  • OSG ZA

© 2022 OSG-OloriSuperGal All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist