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Economic Commentary & Update

Economic Commentary & Update is a responsive commentary on economic developments with detailed impact on external balance, fiscal policy, monetary policy, economic growth and the financial market. It also includes concise analysis of economic indicators as they are released.

Economic Commentary & Update

A responsive commentary on economic developments with detailed impact on external balance, fiscal policy, monetary policy, economic growth and the financial market. It also includes concise analysis of economic indicators as they are released.

November, 2020

Higher Energy and Food Prices Pushed Headline CPI to 14.23% YoY

October, 2020

Persisting Food Pressure Pushes Headline Inflation to 13.71% YoY

September, 2020

Low Liquidity Expected to Dampen Impact of Lower Rates

MPC Preview: Balancing FX Stability and Moderating Economic Contraction

Renewed Jump in Core Inflation Compound Pressure on the Headline Index

August, 2020

Covid-19 Hurricane Makes Landfall as GDP Contracts 6.1% YoY in Q2 2020

Increase in Food Prices Delivered Another Jump in Headline Index

Employment Numbers Hit the Bottom, Unemployment Rate Rose to 27.1%

July, 2020

Decline in Market Supply Pushed Headline Index Higher

June, 2020

Headline CPI at Highest Since May 2018

May, 2020

MPR Reduction Signals More Deliberate Measures Imminent

MPC Preview: Economic Stability Regains Priority but Policy Options Still Limited

Q1 2020 GDP Escapes Full Impact of Covid-19, Q2 Not So Lucky

Supply Chains Disruption Becoming More Evident

April, 2020

Delayed Transmission Softens Inflation Expansion in March

Great Lockdown Necessitates Further Downgrade to GDP

Fiscal Position: Still Critical but Temporary Panacea in Sight

March, 2020

Fiscal Position Getting Critical

MPC Preview: Tough Times… Limited Options

Breakup in Supply Chain Portends Major Risk for Price Stability

Global Shocks Alters Nigeria’s Short Term Outlook – 16 March, 2020

February, 2020

Q4 19 GDP – Positive Surprise, but Sustainable?

Headline Inflation ticked up by 15bps to 12.13% YoY in January

January, 2020

MPC Increased Cash Reserve Ratio by 500bps to 27.5%

MPC Preview: Dovish stance but hawkish actions

Month-on-month inflation expands at a slower pace in December

December, 2019

Inflation Ticked up 24bps to 11.9% Year-Over-Year in November

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