Nigeria’s Inflation Rate to Hit Double Digits in 2015 – FDC

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okonjo iweala

Amidst the crisis triggered by the plunge in crude oil prices and the corresponding pressure on the naira, analysts from the financial and investment advisory firm, Financial Derivatives Company, have put Nigeria’s inflation figure at 10-12 per cent this year.

The research company, in a special publication last week titled: ‘2015 Election: It’s the Economy, Stupid,’ said although inflation stood within a single digit band for most part of 2014, a number of local and international economic developments will push Nigeria’s inflation to a new threshold in 2015.

Current inflation figure, according to the National Bureau of Statistics is 7.9 per cent, but FDC said considering the sustained turbulence in global economy, Nigeria cannot but record a marginal increase in its inflation figure for the year.

 

Source: Nigerianbulletin

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