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Nigeria s Consumer Headline Inflation to Increase Again to 18 2% in May 2021

Based on our time series model and market survey, headline inflation is likely to increase to 18.2% in the month of May from 18.12% in April. The earlier news that headline inflation slipped marginally in April 2021 was received with a certain amount of skepticism by analysts. This was mainly due to the fact that anecdotal proxies seemed to be running contrary to the data. The question on the minds of most analysts is if this drop was a blip or a trend. What also raised eyebrows was the statement by the FAO that global food prices are at a 10-year high of 4.8%.

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