Nigeria Economic Alert - Demand and supply shocks from COVID-19 keep inflation higher for longer

Click here to unsubscribe. pwc.com/ng   Demand and supply shocks from COVID-19 keep inflation higher for longer Nigeria Economic Alert Dear Subscriber Our latest Nigeria Economic Alert - Demand and supply shocks from COVID-19 keep inflation higher for longer, provides an analysis of latest inflation figures from the National Bureau of Statistics. Headline inflation rose by 12.4% year-on-year in May 2020 (the highest in 26 months- from 12.3% in April) The continued rise in headline inflation was partly caused by the supply shocks to the commodity process and the fallout from the COVID-19 pandemic. These factors have kept the inflation rate above its long-term rate of 11.9%. On a month-on-month basis, headline inflation rose the fastest since July 2018 (23-month high) by 1.2% in May 2020. This was due to significant disruptions to domestic and global supply chains on account of the lockdown measures brought on by mitigating the pandemic's spread. The alert looks at the impacts of inflationary trends on the economy and gives an outlook for the second half of the year, while also making recommendations for curtailing the persistent rise in prices. Download the full Alert below and feel free to reach out to us if you require an in depth discussion on the economic indices and possible scenarios for the future. Download Nigeria Economic Alert Contact Us Andrew S. Nevin (PhD) Partner & Chief Economist andrew.x.nevin@pwc.com Omomia Omosomi Manager omomia.omosomi@pwc.com   Follow us         You're receiving this email because you are listed as a client of PwC or have opted to subscribe to one or more of our email distributions. If you'd prefer not to receive updates, you have the right to withdraw your consent at any time. © 2001 - 2020 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. Legal Disclaimer | Site Provider | Privacy Statement

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