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Nigerian inflation seen at 14.15% this year as virus takes toll -central bank

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  • Nigerian inflation seen at 14.15% this year as virus takes toll -central bank

    Source: https://www.nasdaq.com/articles/nige...ank-2020-09-14

    Nigerian inflation seen at 14.15% this year as virus takes toll -central bank
    Published
    Sep 14, 2020 8:36AM EDT

    Nigeria inflation is expected to rise up to 14.15% at the end of December, the central bank said, citing supply shocks due to fall in economic activity and disruptions caused by the novel coronavirus pandemic.
    By Chijioke Ohuocha

    ABUJA, Sept 14 (Reuters) - Nigeria inflation is expected to rise up to 14.15% at the end of December, the central bank said, citing supply shocks due to fall in economic activity and disruptions caused by the novel coronavirus pandemic.

    Inflation climbed to 12.82% in July, its eleventh month rise, to remain at its highest level in more than two years. Nigeria is due to release August inflation data on Tuesday.

    The central bank said in a report on Friday that low manufacturing capacity compared with rising demand for imported goods has affected the economy with a food supply shock.

    "Headline inflation is expected to hover around 13.97% and 14.15% at end December 2020," the central bank said...

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