Nigeria inflation to fall to single-digits in mid-2018 -CenBank

Central Bank of Nigeria's (CBN) governor, Godwin Emefiele

Nigeria’s Central Bank Governor Godwin Emefiele said last week Friday he expected inflation rates to fall at a faster pace and hit high-single digit rates mid-next year.

“We are very optimistic that food prices will come down, and as they come down it will help to complement the reduction in core inflation,” Emefiele told journalists on the sidelines of an investment conference at the London Stock Exchange, adding he expected a “more aggressive moderation.”

“We are hoping that by the middle of next year we should begin to approach the high single digits,” he said, adding that around 9 percent would be a good target.

Annual inflation in Nigeria slowed for an eighth month in September, easing to 15.98 percent.

Credit: Reuters

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