{"id":121661,"date":"2024-03-15T17:26:30","date_gmt":"2024-03-15T17:26:30","guid":{"rendered":"https:\/\/fdcng.com\/?p=121661"},"modified":"2024-03-15T17:26:30","modified_gmt":"2024-03-15T17:26:30","slug":"fdc-economic-splash-march-15-2024-re-at-31-7-is-inflation-in-nigeria-becoming-intractable","status":"publish","type":"post","link":"https:\/\/fdcng.com\/fdc-economic-splash-march-15-2024-re-at-31-7-is-inflation-in-nigeria-becoming-intractable\/","title":{"rendered":"FDC ECONOMIC SPLASH \u2013 MARCH 15, 2024 [Re: At 31.7%, is inflation in Nigeria becoming intractable?]"},"content":{"rendered":"<p>[vc_row][vc_column]<div class=\"gem-button-container gem-button-position-inline\"><a class=\"gem-button gem-button-size-small gem-button-style-flat gem-button-text-weight-normal\" style=\"border-radius: 3px;background-color: #ddbd89;color: #ffffff;\" onmouseleave=\"this.style.backgroundColor='#ddbd89';this.style.color='#ffffff';\" onmouseenter=\"this.style.backgroundColor='#ddccaa';this.style.color='#000000';\" href=\"https:\/\/fdcng.com\/wp-content\/uploads\/2024\/03\/March-post-inflation-2024-1.pdf\" target=\"_blank\">DOWNLOAD PDF<\/a><\/div> [\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber,<\/p>\n<p>The National Bureau of Statistics released the inflation data this afternoon. Exceeding anticipated consensus and expectations, headline inflation rocketed by 2.51% to 31.7% from 29.9% in January. This is a 28-year high and is making policymakers scratch their heads. Food inflation in particular climbed by 1.8% to 37.92%, driven by sharp increases in prices of rice (35.7%), beans (17.6%), tomatoes (40%), eggs (18.4%), Turkey (25%), and others. Cost-push factors, weaker naira, and forex translation costs in the replenishment of inventory are contributing factors. Core inflation (which excludes food and energy), rose by 1.54% to 25.13% suggesting structural inflationary pressures are persistent. The situation calls for a comprehensive change of strategy in the use of monetary and fiscal measures to address inflationary trends effectively.<\/p>\n<p><strong>Monetary policy tightening most likely outcome<\/strong><\/p>\n<p>The MPC at its next meeting will be in a dilemma as to whether to tighten further or maintain the status quo. The most likely outcome is a 100-basis point increase in the MPR to 23.75%p.a. The real challenge will be the lag between the rate increase and the moderation in the headline inflation whilst attempting to achieve macroeconomic stability.<\/p>\n<p>The FDC Think Tank analyzed the January inflation data and its implications for businesses and the economy in the download and link below.<\/p>\n<p>Enjoy your read![\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber, The National Bureau of Statistics released the inflation data this afternoon. Exceeding anticipated consensus and expectations, headline inflation&#8230;<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,35],"tags":[],"_links":{"self":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/121661"}],"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=121661"}],"version-history":[{"count":1,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/121661\/revisions"}],"predecessor-version":[{"id":121662,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/121661\/revisions\/121662"}],"wp:attachment":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/media?parent=121661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/categories?post=121661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/tags?post=121661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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