Nigeria’s Inflation Projected To Ease To 18.8%
By FIDELUS ZWANSON
NIGERIA’S September inflation rate is projected to ease to 18.8%, down from 20.1% in August, signaling a possible turning point in the country’s fight against rising prices.
The moderation, driven by lower food costs and a stronger naira, could pave the way for another interest rate cut by the Central Bank of Nigeria in November. The CBN had earlier reduced its benchmark rate to 22.5% in September to support growth.
Analysts say the trend reflects the impact of monetary tightening and improved currency stability. However, they warn that renewed naira weakness could reverse gains.
Globally, markets remain volatile after former U.S. President Donald Trump’s threat to impose new tariffs on Chinese goods triggered a $2 trillion sell-off. Investors are now watching Federal Reserve Chair Jerome Powell’s remarks for policy direction amid the ongoing U.S. government shutdown.
