View our October CPI Report !!!

1. ©PearlMutual Consulting Ltd 2016
October 2017 CPI Update
Credible Gains!!!
Nigeria’s consumer price index continued its
southwards trajectory for the ninth consecutive
time. It declined marginally by 7bps from 15.98%
in September to 15.91% in October. It is the lowest
figure recorded in the last 17 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 of monetary authorities actions in the
system, and relative stability in foreign exchange
market..
Source: PearlMutual Analytics
Minty Flavors
In the month of October 2017, all MINT countries
except Indonesia and Nigeria witnessed declines
in inflation rate. Turkey’s inflation rate rose for
the sixth consecutive time to 11.90% (+70bps)
from 11.20% in August 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 6.37% (+2bps) in august. This is
because of changes in monetary policies.
Similarly, Indonesia’s inflation rate fell
marginally to 3.58% (-12bps) 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 a slight appreciation of the naira
and availability of forex in the market during the
period under review.
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Nigeria InflationTrend

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
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