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IMF Predicts Nigeria’s Inflation Rate to Stabilize at 14% by 2029

meridianspyBy No Comments1 Min Read
The International Monetary Fund (IMF) logo is seen at the IMF headquarters building during the 2013 Spring Meeting of the International Monetary Fund and World Bank in Washington, April 18, 2013. REUTERS/Yuri Gripas (UNITED STATES - Tags: POLITICS BUSINESS) - RTXYQYK
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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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▲ Trump threatens China with 50% tariff if it helps Iran President Donald Trump on Sunday threatened China with “staggering” new tariffs on its goods entering the United States if Beijing provides military assistance to Iran during the Middle East war. “If we catch them doing that, they get a 50 per cent tariff, which is a staggering—that’s a staggering amount,” Trump told Fox News show “Sunday Morning Futures with Maria Bartiromo.” The US leader is scheduled to visit Beijing next month for talks with his Chinese counterpart Xi Jinping, after delaying an earlier summit because of the war against Iran. Details later AFP