Nigeria’s Inflation Rate To Hit Single-Digit Mid-Next Year

Godwin Emefiele the Nigeria’s Central Bank Governor said on Friday said he expected the inflation rate to fall at a faster pace and hit high single-digit rates a 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.

“I 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 nine percent would be a good target.

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

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