FDC COMMODITY UPDATE – MAY 09, 2017

The recent spike in commodity prices especially beans and yellow garri confounded most analysts. Also noteworthy is the price of cement which has spiked 17.3% to N2,700. Typically the price of cement falls during the raining season. This contrarian movement is most likely due to the surge in demand due to an aggressive civil construction agenda of the federal and state governments.

In spite of these aberrational price increases, analysts are still convinced that the inflation numbers for April will still show a slight decline.

The FDC Think Tank summarizes these events in a month which promises to be interesting with the release of key economic variables.

Enjoy your read!