Headline inflation is expected to continue its downward trend with a dip to 14.90% in January. This is likely to be the 12th consecutive monthly decline since 2017. This fall in the consumer price index is mainly due to a decline in global commodity prices and a sharp drop in manufacturing output (54.6 – FBN PMI).
It is also anticipated that month-on-month inflation will remain unchanged at 7.33% annualized.
In the attached bulletin, the FDC Think-Tank analyses the possible implications of this decline on the wider economy and the policy environment.
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