Month-on-Month analysis of food prices show that average prices of selected food items
reduced from December 2017 to January 2018. Precisely, total average month-on-month price
decreased from 2.48 percent to 1.19 percent, with reductions in unit prices of items such as
eggs, chicken, beef, rice, fish, and palm oil among others. Food prices which remains largely
volatile in the short term, may have reduced in the review period due to a slight fall in consumer
demand following the end of the festive period. Looking forward, the decline in food prices may
be short-lived in the absence of yield-enhancing investments that can sustain food
production/supply. Hence, the government should promote policies that alleviate the credit constraints to yield-enhancing investment in the private sector.
Macroeconomic Report & Economic Updates
March 10, 2018
Nigeria Economic Update (Issue 7)
Month-on-Month analysis of food prices show that average prices of selected food items reduced from December 2017 to January 2018. Precisely, total average month-on-month price decreased from 2.48 percent to 1.19 percent, with reductions in unit prices of items such as eggs, chicken, beef, rice, fish, and palm oil among others. Food prices which remains […]
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Nigeria Economic Update (Issue 16)
Recently
released World Economic Outlook by the International Monetary Fund (IMF)
projects economic activities to increase significantly in developing countries-
especially Nigeria. Annual real output is expected to grow by 0.8 percent in
2017 from the contraction of 1.5 percent in 20161. Improvement in
economic activities is hinged on prospective favorable effects of continued
increase in commodity export price (Crude oil is expected to increase to $55
per barrel in 2017 compared to $46 in 2016).