Nigeria 1st Quarter Inflation Report 2024
The inflation landscape in Nigeria during 2024 has been characterized by significant fluctuations, driven by both domestic and international factors. This report provides a comprehensive analysis of the inflation trends, key drivers, impacts on various sectors, and the policy measures implemented to address these challenges.Food inflation remained a significant driver, contributing approximately 60% to the overall inflation rate. Factors such as agricultural disruptions, supply chain issues, and climate change impacts led to higher prices for staples like rice, maize, and yams.
The inflation landscape in Nigeria during 2024 has been characterized by significant fluctuations, driven by both domestic and international factors. This report provides a comprehensive analysis of the inflation trends, key drivers, impacts on various sectors, and the policy measures implemented to address these challenges.Food inflation remained a significant driver, contributing approximately 60% to the overall inflation rate. Factors such as agricultural disruptions, supply chain issues, and climate change impacts led to higher prices for staples like rice, maize, and yams.
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