Nigeria Faces Highest Inflation in Democratic Era, Projected to Hit 30% by Year's End
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Nigeria's inflation rate projected to reach record 30% by end of year, highest since modern democratic era, according to analytics firm Stears
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Projection based on econometric tools considering various inflation drivers, from general to Nigeria-specific dynamics
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Stears cites widening gap between official and parallel exchange rates, prolonged rainy season affecting harvests as inflationary pressures
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Forecasts meant to assist professionals, firms, governments in short- to medium-term investment, pricing, policy decisions
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Experts say new fiscal policies like currency unification, fuel subsidy removal will temporarily stoke inflation, hurt buying power