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.
Gross Domestic Product Growth Rate: The growth performance of the Oil and Gas sector has been unsteady throughout years and declined most significantly in 2015Q4, following a positive growth recorded
Net Domestic Credit: Rising net credit to government and private sector have driven the upward trend in NDC, especially post-2008. In 2016Q1, NDC grew largely on the account of the rise in banking sec
Capital Importation: Investment in the oil and gas sector has remained low since 2009. However, investments into the sector fell more deeply in 2015, on the account of persistent global and domestic c
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.