Financial Derivatives forecasts Nigeria’s inflation to rise to 34.64% for November 2024.
The prediction is based on a Lagos market survey and regression model.
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This shows a 0.76% increase due to seasonal factors and cost pressures.
The Economist Intelligence Unit (EIU) anticipates inflation will peak at 35% in December 2024 and average 27.7% in 2025.
Food prices are expected to rise significantly, with a high cost of food projected at 40.02%.
Monthly height is expected to increase to 2.67%, annualized at 37.25%.
The Nigerian Monetary Policy Committee (MPC) raised the policy rate to 27.50% to combat inflation.
Analysts suggest that inflationary pressures may persist without complementary economic policies.
A moderation in the high cost of living is anticipated before mid-2025 as inflation begins to taper.
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