living crisis Archives - Businessday NG Sat, 22 Apr 2023 09:12:28 +0000 en-US hourly 1 188198514 How CBN rate hikes fail to tackle inflation https://businessday.ng/business-economy/article/how-cbn-rate-hikes-fail-to-tackle-inflation/ https://businessday.ng/business-economy/article/how-cbn-rate-hikes-fail-to-tackle-inflation/#respond Sat, 22 Apr 2023 09:12:28 +0000 https://businessday.ng/?p=724029 Central Bank of Nigeria (CBN)

After six consecutive rate hikes in almost a year by the Central Bank of Nigeria (CBN), inflation in Africa’s most populous nation has continued to accelerate. The apex bank hiked the rate for the first time in May 2022 after six years, the stance was taken to fight the bullish inflation for ten straight months […]

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]]> https://businessday.ng/business-economy/article/how-cbn-rate-hikes-fail-to-tackle-inflation/feed/ 0 724029 Nigeria’s March inflation beats analysts’ expectations https://businessday.ng/business-economy/article/nigerias-march-inflation-beats-analysts-expectations/ https://businessday.ng/business-economy/article/nigerias-march-inflation-beats-analysts-expectations/#respond Sat, 22 Apr 2023 09:01:45 +0000 https://businessday.ng/?p=724032 Inflation rate

Nigeria’s headline inflation rose for the third straight month in March, largely driven by higher food and non-alcoholic beverages costs. According to data released by the National Bureau of Statistics (NBS) on Saturday, the inflation rate quickened to a new 17-year high of 22.04 percent from 21.91 percent in the previous month. On a year-on-year […]

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]]> https://businessday.ng/business-economy/article/nigerias-march-inflation-beats-analysts-expectations/feed/ 0 724032 Nigeria’s worsening cost of living puts balance diet out of reach https://businessday.ng/business-economy/article/nigerias-worsening-cost-of-living-puts-balance-diet-out-of-reach/ https://businessday.ng/business-economy/article/nigerias-worsening-cost-of-living-puts-balance-diet-out-of-reach/#respond Thu, 13 Apr 2023 21:06:24 +0000 https://businessday.ng/?p=722053 Cost of living

The worsening cost of living crisis in Africa’s most populous nation is putting a balanced diet out of reach for millions of Nigerians, especially fixed and low-income earners. Accelerating inflation and dwindling household incomes is eroding consumers’ purchasing power. Nigeria’s inflation at 21.97 percent in February, the highest in 17 years, far outpacing wage growth, […]

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]]> https://businessday.ng/business-economy/article/nigerias-worsening-cost-of-living-puts-balance-diet-out-of-reach/feed/ 0 722053 Nigeria’s retail rents surge 36% in H2 https://businessday.ng/uncategorized/article/nigerias-retail-rents-surge-36-in-h2/ https://businessday.ng/uncategorized/article/nigerias-retail-rents-surge-36-in-h2/#respond Thu, 13 Apr 2023 20:57:24 +0000 https://businessday.ng/?p=722044 House rent

Achieved rentals otherwise known as agreed rent in Nigeria’s formal retail market rose by 35.5 percent in the second half of 2022, new report findings show. According to the report by Broll Property Group, an African commercial property services company, average achieved rent grew to $56/m2 per annum in the second half of last year […]

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]]> https://businessday.ng/uncategorized/article/nigerias-retail-rents-surge-36-in-h2/feed/ 0 722044 February inflation accelerate most in Bauchi, Rivers, Ondo https://businessday.ng/business-economy/article/february-inflation-accelerate-most-in-bauchi-rivers-ondo/ https://businessday.ng/business-economy/article/february-inflation-accelerate-most-in-bauchi-rivers-ondo/#respond Wed, 05 Apr 2023 16:11:56 +0000 https://businessday.ng/?p=720365

Inflation in Africa’s biggest economy accelerated the most in Bauchi Rivers, Ondo, Kogi, and Anambra in February on a year-on-year basis, according to the Consumer Price Index report. Bauchi, Rivers, Ondo, Kogi, and Anambra inflation rates were 24.4, 24.3, 23.9, and 23.9 percent respectively all of which outpace the headline inflation. Although, the inflation rate […]

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