Consumer Price Index Rise To 11.44%
Consumer price Index for the month of December, 2018 increased by 11.44% on year on year basis, which represent a 1.4% increase compared to the previous month of November, 2018 Inflation index of 11.28%, while monthly inflation index reflect, an appreciation of 0.74% when compared to November, 2018 monthly inflation index. The percentage change in the average composite CPI for the twelve months period ending December 2018 over the average of the CPI for the previous twelve months period was 12.10 percent, showing 0.31 percent point from 12.41 percent recorded in November 2018. The Classification of Individual Consumption by Purpose all inched higher, which resulted in higher Headline index. Urban CPI increased by 1.03% on a year on year basis, the Urban CPI was 11.73% in December, 2018 compared to 11.61% recorded in November, 2018. Consumer Price Index by demography for all items on a year on year basis had Bayelsa state having the highest inflation index for December, 2018, which stood at 13.32% followed by Zamfara State, which was 13.23%.
Global Economy:
ECB Has Narrow Window for Rate Hikes Before Economy Too Soft:
The European Central Bank will only have a narrow window to raise interest rates before the euro-area economy becomes too weak, given the recent Bloomberg survey of economists, as both economists and investors have pushed back their expectations for higher rates after a string of disappointing data. That meshes with global concerns that geopolitical disputes are hurting growth. The survey shows a loss in euro-area momentum, trade tensions and a disorderly Brexit as the biggest threats. Bloomberg
The Nigeria Equities Bourse was on a bullish run for the week ended, as the index appreciated by 3.94% for the trading week, while the YTD NSI stand at (0.21%). READ MORE