MATTERS ARISING! Nigeria's expansion rate hits 15.6%
– Nigeria's expansion rate has hit an 80-month high of 15.6%
– The last time Nigeria recorded an expansion rate as high as 15.6% was in September 2009 when the rate of swelling was put at 15.86 %
Yemi Kale, Statistician general of the Nigerian polity
As indicated by a report discharged by the National Bureau of Statistics,price expansion ascended in the nation because of the deregulation of the downstream part of the oil business which saw an expansion in the cost of Premium Motor Spirit from N87 to N145 per liter. The NBS said the expansion in swelling rate in May when contrasted with what was recorded in April means that a general ascent as a rule value level over the economy as all divisions which added to the Headline list developing at a quicker pace. "In May, the Consumer Price Index which measures swelling recorded a generally solid increment for the fourth back to back month. "The Headline file expanded by 15.6 for each penny year-on-year, 1.9 for every penny focuses higher from rates recorded in April 13.7 for each penny. "Year on year, power rates and also other vitality costs keep on manifesting as key drivers of the center segment of the CPI. "Amid the month, the most elevated increments were found in the traveler transport by street, fluid fuel (Kerosene), fuel and ointments for individual transport gear (premium engine soul) and vehicle save parts bunches. "Imported swelling ascended by 18.6% in May 2016 from 16.3% in April 2016"Core Inflation year on year ascended by 15.1% in May 2016 from 13.4% in April 2016 and month on month by 2.7% in May from 1.7% in April "Nourishment expansion, year on year, ascended by 14.9% in May from 13.2% in April and month on month by 2.6% in May from 1.3% in April." The last time Nigeria recorded an expansion rate as high as the 15.6 for every penny recorded in May this year was in September 2009 when the rate of expansion was put at 15.86 for every penny by the NBS. In the interim, Nigerians are in for hard time as the nation's zenith bank, Central Bank of Nigeria (CBN) has been advised to confine over the-counter withdrawals to N10,000, taking after a noteworthy drop in clients' store. The call, made by Bankers Committee was because of with the business recording a decay of about N1.03tn in all out store
– Nigeria's expansion rate has hit an 80-month high of 15.6%
– The last time Nigeria recorded an expansion rate as high as 15.6% was in September 2009 when the rate of swelling was put at 15.86 %
Yemi Kale, Statistician general of the Nigerian polity
As indicated by a report discharged by the National Bureau of Statistics,price expansion ascended in the nation because of the deregulation of the downstream part of the oil business which saw an expansion in the cost of Premium Motor Spirit from N87 to N145 per liter. The NBS said the expansion in swelling rate in May when contrasted with what was recorded in April means that a general ascent as a rule value level over the economy as all divisions which added to the Headline list developing at a quicker pace. "In May, the Consumer Price Index which measures swelling recorded a generally solid increment for the fourth back to back month. "The Headline file expanded by 15.6 for each penny year-on-year, 1.9 for every penny focuses higher from rates recorded in April 13.7 for each penny. "Year on year, power rates and also other vitality costs keep on manifesting as key drivers of the center segment of the CPI. "Amid the month, the most elevated increments were found in the traveler transport by street, fluid fuel (Kerosene), fuel and ointments for individual transport gear (premium engine soul) and vehicle save parts bunches. "Imported swelling ascended by 18.6% in May 2016 from 16.3% in April 2016"Core Inflation year on year ascended by 15.1% in May 2016 from 13.4% in April 2016 and month on month by 2.7% in May from 1.7% in April "Nourishment expansion, year on year, ascended by 14.9% in May from 13.2% in April and month on month by 2.6% in May from 1.3% in April." The last time Nigeria recorded an expansion rate as high as the 15.6 for every penny recorded in May this year was in September 2009 when the rate of expansion was put at 15.86 for every penny by the NBS. In the interim, Nigerians are in for hard time as the nation's zenith bank, Central Bank of Nigeria (CBN) has been advised to confine over the-counter withdrawals to N10,000, taking after a noteworthy drop in clients' store. The call, made by Bankers Committee was because of with the business recording a decay of about N1.03tn in all out store
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