Teaching Comparative Government and Politics

Friday, June 16, 2017

Inflation as a threat to Nigeria's regime and government

Many younger Americans might be wondering, "What's inflation?" A visit to Nigeria would answer that question.

Food Inflationary Trend Persists As Inflation Eased to 16.25 Percent in May
The National Bureau of Statistics, NBS, reported, yesterday, that annual inflation rate dropped by 0.99 per cent to 16.25 per cent in May 2017 from 17.24 per cent recorded in April.

This represents the fourth consecutive decline in the rate of inflation since January 2017…

The report shows that pressure points still exist despite the general slowdown in inflation on year-on-year terms, stemming from higher agro commodity prices as a result of higher global food prices, increasing exports…

Analysts at WSTC Financial Services Limited, said: "The downward trend in the general price level has further reinforced our outlook on inflation in the current year…

"Additionally, we believe the Central Bank of Nigeria's, CBN, inflation target of 10 -11 per cent at the end of 2017, is largely optimistic, particularly considering mounting pressure on food inflation…

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