Nigeria’s Inflation Falls to 16% But Households Feel No Relief – CPPE
While Nigeria’s headline inflation fell sharply to 16.05% in October, the Centre for the Promotion of Private Enterprise warns that households have yet to feel meaningful relief, as structural issues continue to drive up the cost of essential goods and services.
Key Points:
The National Bureau of Statistics reported a significant drop in inflation to 16.05% in October.
CPPE CEO Muda Yusuf cited persistent structural constraints in the food, transport, and energy sectors.
Food, housing, transport, health, and education still account for 84% of inflation pressure.
Supply-side challenges like logistics, insecurity, and climate issues blunt welfare gains.
Base effects, forex stability, and policy coordination contributed to the statistical decline.
Naira stability has helped reduce imported inflation for sectors reliant on foreign inputs.
Yusuf urged intensified reforms in food production and logistics to translate data into relief.
This disconnect between macroeconomic data and household reality reveals a nation weathering the storm of statistics while still waiting for calm in its daily life.
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Sources: National Bureau of Statistics, The Cable