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Nigeria's goal under the National Economic Empowerment Development Strategy (NEEDS) program is to reduce inflation to the single digits. [56] By 2015, Nigeria's inflation stood at 9%. In 2005, the federal government had expenditures of US$13.54 billion but revenues of only US$12.86 billion, resulting in a budget deficit of 5%.
During the mid and late 1980's, Nigeria experienced a prolonged and severe economic downturn. Nigeria suffered a rapid plummet of its foreign reserves from $10 billion in early 1980s to approximately $1 billion in the mid 1980s due to overvalued currency, inflated imports, and international decline of oil prices. [4]
Housing costs are still a key driver of inflation, according to the latest data from the Bureau of Labor Statistics released Wednesday, even as the residential market stabilizes.. The shelter ...
The U.S. Census Bureau found that if housing costs were taken out, inflation at the end of 2023 would have been 1.8% instead of 3.2%. [51] Reuters noted how shelter costs or 'shelter inflation' surged during the pandemic. [52] Artificial scarcity in the supply of housing, due to NIMBYism, has been a significant factor in making housing more ...
Some of the biggest news stories in 2021 and 2022 have centered on inflation and the housing market. While the market soared in 2021 and into 2022, inflation was relatively benign in 2021 before...
The shelter component of the April Consumer Price Index (CPI) — which makes up a third of the overall inflation index — rose 0.4% month over month after rising 0.6% in March.
Meanwhile, owners' equivalent rent also showed deceleration, falling 0.2% for the month, down from October’s 0.4% gain and marking the slowest monthly gain since April 2021.
2012 Aysén protests due to the high cost of living in Patagonia. A cost-of-living crisis refers to a socioeconomic situation or period of high inflation where nominal wages have stagnated while there is a sharp increase in the cost of basic goods, such as food, housing, and energy.