IMF
Reviews Nigeria’s Inflation Rate To 23% By 2025.
Nigeria’s inflation rate has been reviewed to stand at 23
per cent by 2025 by the International Monetary Fund.
In its Global Economic Outlook at World Bank Spring
Meetings in Washington D.C., the IMF highlighted the impact of the economic
reforms and the currency policies as the country’s inflation rate is currently
pegged at 33.2 per cent as recently released by the National Bureau of
Statistics in March
The development comes following the fund’s 2023
prediction that the country’s inflation rate for 2025 would slow to 15.5 per
cent by 2025.
As Nigeria’s inflation rate rose to 33.2 per cent in
March, the food inflation rate also increased to over 40 per cent in the first
quarter of 2024.
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