World Bank Projects 25% 2023 Inflation in Nigeria 

The World Bank has projected that inflation may hit 25 per cent in 2023 as a result of petrol subsidy removal. <br />The Washington-based bank noted that although there will be a significant increase in 2023, headline inflation will fall by the first quarter of 2024. <br />The bank says the removal of the petrol subsidy is anticipated to cause a temporary increase in inflation in the upcoming months before contributing to disinflation in the medium term. <br />It says Headline inflation is expected to rise from 18.8 percent in 2022 to 25 percent in 2023. However, by Q1 of 2024, the subsidy removal will start to have a disinflationary effect, meaning that it will alleviate inflationary pressures despite higher petrol prices.<br /><br />This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at <a href="https://www.spreaker.com/show/4166630/advertisement">https://www.spreaker.com/show/4166630/advertisement</a>