Nigeria’s Inflation Rate To Jump To 11.4%, Says CBN
The country’s inflation rate will jump to 11.4 percent for the rest of 2018 till mid-2019, according to the Central Bank of Nigeria (CBN).
This was revealed by the CBN, Governor, Godwin Emefiele while speaking on Nigeria’s outlook and policy thrust for 2019.
“Inflation expectations are rising on the backdrop of anticipated politically related liquidity injections,” he said.
“For the rest of 2018 and towards mid-2019, Nigeria’s rate of inflation is projected to rise slightly to about 11.4 percent and then moderate thereafter.”
The consumer price index, which measures inflation fell to 11.26 percent (year-on-year) in October 2018, according to a report by the National Bureau of Statistics on its ‘CPI and inflation report October 2018.’