Brand Spur Issue 5 | Page 8

Main Economic Indicators
Inflation: Nigerians are getting poorer
+68%
Fuel

+42%
Devaluation

18.3%
17.6%

17.9%

17.1%
16.5%
15.6%
+45%
Electricity

13.7%
12.8%

11.4%

9.3%

9.4%

9.6%

9.6%

Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16

Jul-16

Aug-16 Sep-16 Oct-16

Headline Inflation sub-components
Non - Food

Inflation

Oct-2016: 18.1%
Dec-2015: 8.73%

BRANDSPURNG.COM

Food
Inflation

Oct-2016: 17.09%
Dec-2015: 10.59%

Sources: Nigerian Bureau of Statistics (NBS), FMDQOTC, April: FX-Fuel-Dev-Har-Bok