The headline inflation rate is expected to decline to 16.8% in April from 17.26% recorded in March. This is mainly attributable to waning base year effects and the positive impact of the CBN’s injections into the forex market.
A trending topic in the domestic markets is the potential review of the minimum wage rate by a more than 200% increase to N56, 000 from the current N18, 000. This is likely to have significant inflationary impact.
However, an upside potential towards a moderate inflation trend will be a function of the continued aggressive intervention in the forex market by the CBN.
In the attached
