Emefiele: Nigeria’s rising inflation reflects global economic realities | TheCable

November 26, 2022 11:24 AM

He explained that the upward momentum was after a successive period of decline in 2021 due to balanced monetary policy actions.The CBN governor said the upside pressure on consumer inflation re-emerged during the year as global conditions complicated existing local imbalances to undermine price stability.

Emefiele said during the early part of 2020, the world economy experienced the most significant downturn last witnessed since the ‘great depression’ following the outbreak of the COVID-19 pandemic. He said the war, along with the sanctions placed on Russia by the United States and its allies, led to a spike in crude oil prices.

“Today, close to 80 percent of countries have reported heightened inflationary pressures due to a confluence of some of the factors mentioned above.”According to Emefiele, central banks in emerging markets and developing economies, in a bid to contain rising inflation were also compelled to raise rates, which was expected to lead to a tapering of global growth over the next year.

Source: Entertainment Trends (entertainmenttrends.net)

Rising inflation for 8yrs running reflects your incompetency!

Since 1960 Nigeria got independent till now, no achievement because of bad Leadership,few citizens Blame British colony forgotten that New Zealand,Australia,Malaysia,Singapore,South Africa,Brunei, British colonised them,they all Rich&doing well. Vote for Peter Obi to fix Nigeria

Does the corruption and stealing also reflect a global trend?

Inflation is global

Is it taboo that Nigeria is an exception

We all gotta dey alright las las 😊

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