Inflation in Nigeria is on the rise and hit a 17-year record high, with the Consumer Price Index (CPI) increasing by 21.91% year-on-year. This was higher than the previous month’s print of 21.82% and slightly lower than our expectation of 22.14%.
Nigeria’s headline inflation accelerated to 21.82% in January 2023, from 21.34% YoY in December 2022. When compared to January 2022, CPI rose by 6.22% pts. SImilarly, on a MOM basis, inflation reached 1.87%, against 1.71% recorded in December 2022.
View the 2022 earnings snapshot for the publicly released corporate results through the link below
View the 2022 earnings snapshot for the publicly released corporate results through the link below
At the first Monetary Policy Committee (MPC) meeting of 2023, the committee voted to tighten its stance further, by 100bps. The Monetary Policy Rate (MPR) thus stands at 17.50% with other parameters being held constant. This hike marks the fifth consecutive increase in the MPR, following rate hikes in May (1.50%), July (1.00%), September (1.50%), …
Headline Inflation settled at 21.47% YoY in November (vs. 21.18% YoY in October, marking the eleventh consecutive rise this year. On a month-on-month basis, a rise of 0.16% pts was recorded, bringing the figure to 1.39%.
According to the National Bureau of Statistics (NBS), headline inflation in Nigeria came in at 20.77% YoY in September, 0.25% points higher than 20.52% YoY recorded in August. This marks the ninth consecutive increase since the start of the year.Click the link below to read the full report.
In arriving at its decision, the Committee weighed various economic developments, including the weakening global output due to supply chain disruptions worsened by the Russia-Ukraine war. This, along with COVID-19 lockdown in China, persisting global inflationary pressures, tightening financial conditions owing to broad-based aggressive policy, capital flow reversals in emerging markets and its consequent upward …
Nigeria’s headline inflation hit 20.52% YoY in August; 0.88% points higher than 19.64% in July. On a month-on-month basis, however, inflation moderated to 1.77%, against 1.82% in July. Click the link below to read the full report.
The Anchoria Money Market fund returned 5.84% and 5.92% in June and July, higher than the respective benchmark returns of 2.80% and 2.12%. This performance was driven by higher yielding investment alongside some re balancing techniques.Demand remained healthy at the primary market auctions, however, the pace of over subscriptions slowed, as we saw the CBN …
Anchoria Asset Management © 2022
