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Wednesday, September 28, 2022

Nigeria projects inflation at 11.95% by end 2021~Finmin

Nigeria’s finance minister Zainab Ahmed has projected that the country’s inflation would decline to 11.95 percent at the end of the year.

The country’s inflation stood at 14.89 percent In November and analysts said the consumer price index is seen rising higher in the year.

However, Ahmed said on Tuesday that the inflation rate is seen above the projection of a single-digit rate by the government.

She said the government will work on reducing food prices and the high cost of doing business.

She said inflation would still be above the government’s single-digit target.

Inflation has been in double digits for almost three years, lifted by high food costs.

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