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November cpi report
- 1. ©PearlMutual Consulting Ltd 2016
November 2017 CPI Update
Running on Steam!!!
Nigeria’s consumer price index continued its
southwards trajectory for the tenth consecutive
time. It declined marginally by 1bps from 15.91%
in October to 15.90% in November. It is the lowest
figure recorded in the last 18 months. According
to National Bureau of Statistics, increases were
recorded in all Classification of Individual
Consumption by Purpose (COICOP) division
that yield the headline index.
This sustained reduction can be attributed to the
effect slight decrease in food prices and relative
stability in foreign exchange market.
Source: PearlMutual Analytics
Minty Flavors
In the month of November 2017, all MINT countries
except Indonesia and Nigeria witnessed increase
in inflation rate. Turkey’s inflation rate rose for
the seventh consecutive time to 13.3% (+140bps)
from 11.9% in October attaining the highest CPI
since May 2001. This has been attributed to
increasing prices of food, transport and clothing.
On the other hand, the headline index for Mexico
climbed to 6.7% (+30bps) in October. This is
because of changes in monetary policies.
Similarly, Indonesia’s inflation rate fell
marginally to 3.3% (-30bps) in October. This
decrease is caused by slow rise in processed food,
electricity and fuel.
MINT members are likely to experience
increasing pressures on general price levels
unless respective governments take appropriate
measures to reverse the trend.
Source: PearlMutual Analytics
Inflation Outlook for Nigeria
The MPC maintained the MPR for the seventh
consecutive time. We expect inflation rate to
decline due to the availability of forex in the
market during the period under review.
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- 2. ©PearlMutual Consulting Ltd 2016
Analysts
Onwuelingo Anthony.T
Anthony.onwuelingo@pearlmutual.com
Sunday Udoh.
sunday.udoh @pearlmutual.com
Olufunmi Adepoju, CFA
olufunmi.adepoju@pearlmutual.com
For economic or industry research and other enquiries please contact consultant@pearlmutual.com or
+2348132326547. You can also learn more about us at www.pearlmutual.com
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