Inflation edged higher in May, keeping the Monetary Policy Committee (MPC) on course to pursue an additional rate hike at its next meeting. The inflation reading yet again hit a near 18-year peak, as the Consumer Price Index (CPI) rose 22.41% in May, up from 22.22% in April.
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.
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.
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 …
In the first three quarters of 2021, Nigeria’s GDP has expanded by 0.51%, 4.01% and 4.03% respectively, as the country returned to normalcy with regards to business operations and economic activities. However, it is important to note that while the growth numbers are commendable, Nigeria is dealing with a low base, indicating that growth is …
The Anchoria Money Market Fund delivered a Gross Return of 6.90% (5.90% net of charges), surpassing its benchmark by c.383bps in April. System liquidity contracted during the month, considering the absence of coupon payments and maturity proceeds. As such, the Open repo and Overnight rates rose by 7.75% and 7.50% from 4.50% and 5.00% to …
Nigeria’s headline inflation rate continued its upward trajectory in April, rising by 0.90% to 16.82% Y-o-Y. In the same vein, food and core inflation rose to historical highs, settling at 18.37% Y-o-Y and 14.18% respectively. On a month-on-month basis, however, headline inflation increased by modest 2bps from 1.74% to 1.76%. Click the link below read …
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