{"id":121534,"date":"2024-01-16T17:38:33","date_gmt":"2024-01-16T17:38:33","guid":{"rendered":"https:\/\/fdcng.com\/?p=121534"},"modified":"2024-01-16T17:38:33","modified_gmt":"2024-01-16T17:38:33","slug":"fdc-commodity-update-january-16-2024","status":"publish","type":"post","link":"https:\/\/fdcng.com\/fdc-commodity-update-january-16-2024\/","title":{"rendered":"FDC COMMODITY UPDATE – JANUARY 16, 2024"},"content":{"rendered":"

[vc_row][vc_column]

DOWNLOAD PDF<\/a><\/div> [\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber,<\/p>\n

Brent gains as supply concerns deepen<\/em><\/strong><\/p>\n

Brent futures rose by 0.90% to $78.85pb on Thursday after falling below the budget benchmark level of $77.96pb in the previous session. The rise in oil prices was driven by\u00a0intensified conflict in the Middle East as Houthis struck down a US owned commercial vessel. However, with Brent futures still hovering around $78pb and below the $80pb resistance point, concerns about Nigeria\u2019s fiscal imbalances and budget implementation will persist.<\/p>\n

Nigeria Headline inflation surges to a 27-year high of 28.92% in December<\/em><\/strong><\/p>\n

Nigeria\u2019s headline inflation climbed to a 27-year high of 28.92% in December 2023, 0.72% higher than November\u2019s headline inflation of 28.20%. The increase\u00a0was driven by the constant depreciation of the naira, and higher logistics costs due to the reduction of the PMS subsidy, increasing commodity prices. The Y-o-Y increase of 39.33% in money supply growth, further exacerbated inflationary pressures.<\/p>\n

The persistent rise in Nigeria\u2019s inflation rate increases the possibility of another rate hike by the MPC during its next meeting.\u00a0 However, there is a need for the monetary policy and the fiscal policy to align to achieve macroeconomic stability.<\/p>\n

These and other burning economic issues were discussed on Channels TV Business Incorporated Programme by FDC Research Manager, Dr. Adesola Sunmoni<\/p>\n

Click the link to watch the video.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"

[vc_row][vc_column][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber, Brent gains as supply concerns deepen Brent futures rose by 0.90% to $78.85pb on Thursday after falling below…<\/p>\n","protected":false},"author":7,"featured_media":121533,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,110],"tags":[],"_links":{"self":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/121534"}],"collection":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/comments?post=121534"}],"version-history":[{"count":1,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/121534\/revisions"}],"predecessor-version":[{"id":121535,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/121534\/revisions\/121535"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/media\/121533"}],"wp:attachment":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/media?parent=121534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/categories?post=121534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/tags?post=121534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}