The National Bureau of Statistics (NBS) is expected to release the official inflation figures for the month of March next week.
In a new report released by investment firm, Financial Derivatives Company, the analysts forecast that Nigeria’s headline inflation reading for the month of March will rise to 12.1%.
If the March inflation forecast by FDC comes true, it would be the third consecutive monthly increase in Nigeria’s inflation since the beginning of the year.
Prices of domestic commodities ranging from palm oil to cement are showing signs of the direct impact of acute petrol shortages that had lasted the entire month of March.
Analysts at FDC say although the factors contributing to inflation are temporary, they are becoming more permanent and causing panic among the consumers.
