CPI And Its Component And Premium Motor Spirit
CPI and its Components (%)
Its all getting expensive
PMS, AGO and NHK Price (/Litre)
Rising domestic fuel price
CPI and its Component: Changes in inflation rate has mostly been driven by the Core sub-index component. Precisely, in 2016 Q1 and Q2, the rising cost of import, electricity and transport drove inflation back to double digits after nearly two years of relatively low inflation.
Premium Motor Spirit: PMS price has been below N120 up until April 2016. The unusual rise in PMS in April 2016 is attributable to the recent removal of fuel subsidy and the upward adjustment of fuel pump price (from N85.5 to N145) witnessed in 2016Q2.
Crude Oil Price: Crude oil price attained a historical low of $30.7 in January 2016 largely due to excess global oil supply.
Crude Oil Production and Export: Oil production has continued to fall in
External Reserve: External reserve picked up from its year-2000 level below $10,000 million to above $60,000 million in 2008. However, the external reserve fell deeply in 2010/11 and even further in 2
Balance of Trade (Export and Import): With export and, to lesser extent, import declining balance of trade fell deeply in 2015 and, to lesser extent, in 2016Q1.
All-Share Index: In 2016Q1, the decline in ASI was driven by declines in Banking, Insurance, Consumer goods, Oil/Gas, Lotus Islamic, Industrial, AseM, Pension and Premium NSE indices. However, the ASI