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IMF Predicts Nigeria’s Inflation Rate to Stabilize at 14% by 2029
According to the International Monetary Fund’s latest data, Nigeria’s inflation rate is expected to stabilize at 14% in 2029, marking a potential end to the current upward trend.
This projection brings relief amidst concerns over the rising inflation rate, which currently stands at 33.69% as of April 2024, according to the National Bureau of Statistics.
IMF data suggests a gradual decline in the inflation rate from 23% in 2025 to 16% in 2026, 15.4% in 2027, and 14% in both 2028 and 2029. This predicted stabilization is a welcome development for the Nigerian economy, which has been struggling with rising inflation and interest rates.
The stabilization of inflation will likely have a positive impact on the economy, making it easier for businesses and individuals to plan and invest for the future.
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