Inflation

Zimbabwe annual inflation hit 175.66 per cent in June up from 97.85 per cent in May, statistics agency ZIMSTATS said on Monday, the highest rate since 2009.

The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, says he will bring inflation to single digit within the next five years.

Zimbabwe’s interim currency fell to a new low on the black market on Thursday and local firms were demanding payment in U.S. dollars as a hedge against inflation, which is running at its highest in a decade.

Zimbabwean workers have been hit hard by high accommodation costs as landlords now demand rentals in foreign currency to cushion themselves from the RTGS dollar which is free falling against the U.S dollar.

The President of the Dangote Group, Aliko Dangote, says the availability of consumer credit facility is an important option in fighting corruption in the country.

United Nations Secretary-General Antonio Guterres has called on member states to support the organisation and address its deteriorating financial situation.

Nigeria’s central bank governor for the next five years will have to balance fighting inflation and propping up the currency against pressure to boost an economy that’s expanding slower than emerging-market peers.

Chief Martin Onovo, a petroleum sector technocrat and versatile politician, has taken a look at the recommendation of the International Monetary Fund (IMF) for Nigeria to remove of fuel subsidy, and stated that the organisation’s counsel to the country in the last 40 years has consistently failed.

The United States has tightened restrictions on Iran's nuclear programme by failing to renew two key sanctions waivers which allowed Russia and the European nations to do business with Tehran.

Motorists and commuters in Damaturu, have urged the Department of Petroleum Resources (DPR) to sanction petrol stations not selling the product and creating artificial scarcity.

The National Bureau of Statistics on Tuesday released the Consumer Price Index, which measures inflation with the index dropping to 11.25 per cent (year-on-year) in March 2019.

National Bureau of Statistics (NBS) says consumer price index, (CPI) which measures inflation increased by 11.25 per cent (year-on-year) in March 2019.

The middle class is getting squeezed and it is the millennial generation above all that is bearing the brunt, the Organisation for Economic Co-operation and Development has said, urging action to help households struggling with the rising cost of education and housing as incomes stagnate.

The African Development Bank (AfDB) has predicted that the Gross Domestic Product (GDP) of Southern Africa countries will increase by around 2.2 per cent in 2019 from 1.2 per cent last year.

Turkey’s opposition candidate for Istanbul mayor Ekrem Imamoglu was leading Monday by nearly 28,000 votes with most ballot boxes counted, Supreme Election Board (YSK) chairman Sadi Guven said.

Inflation has seriously affected the purchasing power of the N30, 000 National Minimum Wage recently approved by the Senate, the Trade Union Congress of Nigeria (TUC) has said.

Data compiled by Steve Hanke, an economist from John Hopkins University in Baltimore, USA, has shown that Nigerians are the sixth most miserable people in the world.

The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, Thursday projected that the Nigerian economy would grow by three per cent in 2019, higher than the 1.93 per cent it achieved in 2018.