JUNE 2019 CPI Update

The Nigeria consumer price index, (CPI) which measures inflation increased by 11.22 percent (year-on-year) in June 2019. This is 0.18% points lower than the rate recorded in May 2019 (11.40) %. Increases were recorded in all COICOP divisions that yielded the Headline index. On month-on-month basis, the Headline index increased by 1.07% in June 2019, this is 0.04% rate lower than the rate recorded in May 2019.
The percentage change in the average composite CPI for the twelve months period ending June 2019 over the average of the CPI for the previous twelve months period was 11.29%, similar to the 11.29% recorded in May 2019

Source: PearlMutual Analytics

Inflation Outlook for Nigeria

This was the lowest inflation rate in Nigeria since July 2018. This decrease although expected, is beyond analyst prediction. We expect that in the long term, it will decrease further when the Federal Government appointments a Finance Minister who will drive the implementation of economic policy


Minty Flavours


Turkey’s annual inflation rate declined to 15.72% in June 2019 from 18.71% in the previous month and slightly below market expectations of 15.74%. It was the lowest inflation rate since June last year, mainly due to a slowdown in cost of food & non-alcoholic beverages, transportation and housing & utilities


The annual inflation rate in Mexico declined to 3.95% in June 2019 from 4.28% in the previous month, matching market expectations. The slowdown was mainly driven by cost of energy due to the electricity tariff program for warm season. Inflation Rate in Mexico averaged 24.48% from 1974 until 2019, reaching an all-time high of 179.73% in February of 1988 and a record low of 2.13% in December of 2015


Indonesia’s annual inflation rate declined to 3.28% in June 2019 from 3.32% in the previous month, but above market expectations of 3.18%. Prices rose at softer pace for both transportation, communication & financial services (1.91% vs 3.58% in May) and health (3.02% vs 3.10)


Source: PearlMutual Analytics

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