Monday, 25 June, 2018


Rising fuel prices spur inflation in May

Conrad Doyle | 14 June, 2018, 12:07

This is less than 15.47 percent reported in April, while the corresponding rural inflation rate in May 2018 is 14.53 percent compared to 14.95 percent recorded in April.

"Air fares and ferry prices also contributed to the overall increase in inflation due to the timing of Easter".

The Composite Food Index rose by 13.45%, during the period under review. While reading the decision of the committee, Godwin Emefiele, the CBN governor, said the rates were held because inflation is still above the committee's single-digit target.

The Consumer Prices Index including owner-occupiers' housing costs (CPIH) - the ONS' preferred measure of inflation - was 2.3 per cent in May, up from 2.2 per cent in April 2018.

"This is 0.87% points less than the rate recorded in April 2018 13.34% and represents the sixteenth consecutive disinflation since January 2017", the report read.

India's annual retail inflation accelerated to a four-month high in May, driven by higher fuel prices and a depreciating rupee, strengthening views that the central bank could raise interest rates again in August.

This, it noted was down by 0.2 per cent from the rate recorded in April, which was 10.9 per cent.

The percentage change in the average composite CPI for the twelve months period ending May 2018 over the average the average of the CPI for the previous twelve months period was 14.79 percent, showing 0.41 percent point lower from 15.20 percent recorded in April 2018.

The rise in the index was attributed to increases in prices of some staple food items like potatoes, yam and other tubers, vegetables, fish, bread and cereals, fruits and meat.

"With both core and headline inflation only likely to face greater upside pressure from various factors in the coming months, we continue to expect one more 0.25 per cent rate hike from the RBI".

On State-by-State basis, the report said food inflation on an annual basis was highest in Yobe (15.86 per cent), followed by Kebbi (15.62 per cent) and Jigawa (15.56 per cent).

Ben Brettell, senior economist at Hargreaves Lansdown, said: "Some will say these figures add weight to the case for higher rates".

However, it stated that Kwara, Kogi and Delta recorded the slowest rise in the headline year-on-year inflation at 8.87 per cent, 9.07 per cent and 9.22 per cent, respectively.

Recommended

loading...
...

Rebel Wilson’s Bauer defamation payout slashed from $4.5m to $600,000 Rebel Wilson’s Bauer defamation payout slashed from $4.5m to $600,000 Speaking on behalf of Bauer Media , general counsel, Adrian Goss, said: "It was important for us to revisit the award of damages". Wilson said on Twitter the night before the judgment that she had won the case regardless of the damages awarded.

India vs Afghanistan, one-off Test India vs Afghanistan, one-off Test Afghanistan coach Phil Simmons said that putting the spotlight on Khan's talents is helping the other players focus on improving. Afghanistan , meanwhile, will have Mohammad Shahzad , who will lead their batting charge against the Indian attack.

Wide depth of talent but can Didier Deschamps' France deliver? Wide depth of talent but can Didier Deschamps' France deliver? Kante is certainly capable of this, but he'll have a lot of defensive slack on his plate in this system. Everyone knows about his extraordinary potential but I think we're asking too much of him.

Black Ops 4 was running at 160fps on PC at E3 Black Ops 4 was running at 160fps on PC at E3 We got a good look at a preview of multiplayer gameplay from E3 2018 for Call of Duty: Black Ops 4 . Black Ops Pass will be available as a standalone offering at a later date.

Toby Alderweireld open to Tottenham stay despite Man Utd rumours Toby Alderweireld open to Tottenham stay despite Man Utd rumours Rose was rumoured to be a target for Manchester United and it was claimed he was keen to make the move to Old Trafford. The Belgian is now on national duty with Belgium, but he isn't ruling out anything as of yet.

Jaguar Now Offering E-Pace With Adaptive Suspension, Cheaper Engine Jaguar Now Offering E-Pace With Adaptive Suspension, Cheaper Engine The filters are integrated into the after-treatment system and trap ultrafine particulates as the exhaust gases pass through. Although adaptive suspension isn't new to Jaguar , it wasn't available with the E-Pace when it was launched past year .

Trump declares oil prices 'too high', blames Opec And while purchases have waned as shale production has grown, America is traditionally one of the biggest customers for Saudi oil. Russian Federation and Saudi Arabia are set to open the football world cup, which kicks off in Russian Federation on Thursday.

United Nations resolution condemning Israel passes over US objections United Nations  resolution condemning Israel passes over US  objections The adopted resolution calls for "consideration of measures to guarantee the safety and protection" of Palestinian civilians. The United States sought to challenge the ruling requiring a two-thirds majority but that was defeated in a separate vote.

Exhaust-ing ordeal: Woman gets her head stuck in tailpipe Her 45-minute predicament earned her 15 minutes of fame thanks to a six second video that raced around the internet. A young woman has got her head stuck in a truck's exhaust pipe at a country music festival.

Selection of North American bid could bring tournament to Edmonton Field dimensions smaller than FIFA's standard for World Cup matches, Catlett said, were the chief obstacles. We are ready made. "The men's World Cup will take this country to a place it's never been before".

World Cup 2026 awarded to USA, Canada and Mexico World Cup 2026 awarded to USA, Canada and Mexico Russian Federation qualified automatically as the host and will be making their fourth appearance at the finals since 1990. The loss is Morocco's fifth in a World Cup bidding process after previous tries in 1994, 1998, 2006 and 2010.

Pompeo: U.S. aims for 'major' North Korea disarmament in 2.5 years He said Kim affirmed an "unwavering commitment to complete denuclearization of the Korean Peninsula " in a signed document. The lack of details contributed to an air of skepticism in Washington about what Trump accomplished.

Apple may finally adopt USB-C in iPhones launched in 2019 Apple may finally adopt USB-C in iPhones launched in 2019 In 2016, it went to court to fight an order that it break into an iPhone 5c used by a terrorist killer in San Bernardino. The change isn't meant to thwart law enforcement efforts, Apple said.

Dancing FBI agent turns self in to Denver police, booked into jail Dancing FBI agent turns self in to Denver police, booked into jail He was taken to the Denver Police Department headquarters and later released to an Federal Bureau of Investigation supervisor. Multiple sources told 9Wants to Know that Bishop is not assigned to the Denver office and works out of Washington D.C.

Fed Raises Interest Rates for Second Time this Year Fed Raises Interest Rates for Second Time this Year This was the seventh rate hike since late 2015, when the Fed first began lifting interest rates from nearly zero. Powell faces a tricky balancing act as the Fed attempts to bring interest rates toward historical averages.