Inflation Jump In Line With View

June 2008 | Economic Analysis

The May headline inflation figure of 9.7% y-o-y in Nigeria is in line with our view that inflation could decline in the first half of 2008 before rising in H208 towards our revised end-08 forecast of 10.5%. Rising government expenditure amid fast-growing credit from the banking sector and a global inflationary environment remain the major reasons we see higher inflation through 2008.

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