Nigeria’s inflation is predicted by JP Morgan to reach 28% in four months.

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According to JP Morgan, Nigeria’s inflation would reach 28% in four months.

By: Peace Adisa

A leading American financial institution, JPMorgan Chase & Co., has predicted that the country’s inflation rate will rise to 28 per cent during the next four months of the year, despite Africa’s greatest economic difficulties.

Nigeria: Reform pause rather than fatigue: CBN’s financial statements unleash a box of worms, according to a report by JP Morgan.

The study was just issued shortly after the Central Bank of Nigeria’s five-year financial accounts were made public.

Contrary to the frequently cited figure of $36.61 billion from the CBN, according to JP Morgan, Nigeria’s expected foreign reserves at the end of 2022 were $3.7 billion.

According to what heard, the increase in the price of gasoline to 617 cents per liter and the depreciation of the Naira versus the dollar caused Nigeria’s inflation rate to skyrocket to 24.08 percent in July.