December is finally here a month of more demand on income and more expense on food, hope you are preparing
Before entering into the short intro, the CBN MPC outcome was held last week which is the last for the year and the MPR was retained. No need to be disturbed with the exact meaning of this. Just don’t forget the word “retained”. I hope price and household expenses will be retained as we enter the yuletide.
No time of the year has a surge of food, events, party, charity, and every other thing responsible for increasing demand. And with increase demand both real and perceived comes with a price increase. It is hence a good time to effectively plan to spend even as food takes over 50% of household income in Nigeria against recommended 10–15%
Historically inflation in Nigeria has often increased at the end of the year, and this is not too far fetch, though this season is also cushioned with some harvest. Last year experience an increase of 0.89% just in this month few its previous month this is very high and poor harvest must have contributed to it, but increase inflation is not strange in this month as 2019: 0.13%, 2018: 0.16%, 2017: -0.53%, 2016: 0.07%, 2015: 0.18%. And as we have previous say in our last that inflation is down for the 10th month. What consumer price index could be the year? As only 1 in 7 years as it dropped in December.
Product update:…… — https://mailchi.mp/31ab428c1fb9/foodie-products
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