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Fuel Subsidy Removal and FX Unification to Drive Inflation to 30%, Says KPMG Report
KPMG, a global financial advisory service firm, has forecasted that Nigeria’s headline inflation will surge to 30% by December 2023. The country’s current headline inflation rate stands at 26.72% as of September 2023. KPMG attributes this projected spike in prices to recent reforms in the petroleum industry, including the removal of fuel subsidies and the…
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Afrinvest Predicts 27.9% Inflation Rate for October 2023 Due to FX Depreciation
Afrinvest West Africa analysts are anticipating a further uptick in Nigeria’s headline inflation rate, forecasting a rise to 27.9% for October 2023. The projection indicates a 102 basis points increase, primarily attributed to the depreciation of the foreign exchange rate. The report emphasizes that food is expected to sustain its role as a major contributor…
