Financial Derivatives forecasts Nigeria’s inflation to rise to 34.64% for November 2024. The prediction of inflation is based on a Lagos market survey and a regression model.
This increase can largely be attributed to inflation, showing a 0.76% rise due to seasonal factors and cost pressures.
The Economist Intelligence Unit (EIU) anticipates increase will peak at 35% in December 2024 and an 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 the increase.
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 the rise begins to taper.
Discover more from Urhobo Daily
Subscribe to get the latest posts sent to your email.
