World News

JUST IN: Again, Nigeria inflation declines

JUST IN: Again, Nigeria inflation declines

And the number of people in work rose by a strong 122,000 - the biggest increase since before the European Union referendum past year - taking the employment rate to a new record of 74.8 percent, the Office for National Statistics said.

It said the jobless rate dropped to 4.6 percent in line with the calculation criteria set by the International Labor Organization (ILO), marking the lowest level in nearly 42 years.

Consumer prices increased in April by 2.7 percent compared with a year earlier, the Office for National Statistics said, slightly above economists' expectation for a 2.6 percent annual rise in a Reuters poll.

"Without higher wage growth, real earnings will continue to fall for the next two years, weighing on consumer spending and thus GDP growth", said Christian Schulz at Citi.

He added: "Wage data are due later this week and are expected to show that real wage growth has turned negative in the first months of 2017".

Food prices also became more expensive in April, rising 0.2% month-on-month after coming in flat past year.

It said: "The corresponding twelve-month year-on-year average percentage change for the urban index increased from 18.79 per cent in March to 18.98 per cent in April".

Employers expect median pay to increase just 1 pre cent in the 12 months to March 2018, a CIPD/Adecco Group survey shows, down from an increase of 1.5 per cent expected in the previous survey three months ago.

United Kingdom consumer inflation climbed more than expected last month amid the sharp fall in the value of the Pound caused by Britain's decision to leave the European Union. "This view was reflected in last week's interest rate decision as well as the Bank's quarterly inflation report".

Excluding bonuses, wages rose by 2.1% in the three months to March, missing forecasts for it remain in line with February's 2.2% advance. While wage growth is weak, there are other signs of continued strength in the British labour market. But the combination of sterling's fall and higher oil prices are pushing up inflation across the board for consumers and businesses.

After 15 months on the rise, the consumer price index (CPI) which measures inflation rate in the Nigerian economy has been on the decline, dropping for the third consecutive month.

The fall in unemployment takes the jobless rate closer to the 4.5% that the BOE estimates is the level that can be sustained without generating inflation.


  • Mayor Mitch Landrieu to give remarks on removal of four Confederate statues

    Protesters who want the monuments to remain in place clashed some with the Take 'Em Down Nola group that wants the monuments gone. In a statement , the New Orleans City Park Improvement Association said it's not aware of any evidence that it owns the monument.

    Why Advanced Micro Devices Stock Is Slumping Today

    Monashee Investment Management LLC bought a new position in Advanced Micro Devices during the third quarter worth $9,536,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink .

    Dems rule out Lieberman, Keating as Federal Bureau of Investigation picks; former colleague not acceptable

    Lieberman traveled to the White House on Wednesday on short notice for an interview and afterward said it was a "good meeting". Blumenthal said the next director could be "a career prosecutor with a distinguished background - not just any prosecutor".
  • Ashwin in India's Champions Trophy squad

    The 31-year-old has been picked as a first-choice opener along with Rohit Sharma , with Ajinkya Rahane providing back-up. India will defend their title in the ICC Champions Trophy 2017 which will once again take place in England.

    NBA Eastern Conference Finals

    Cleveland's lone win in the first four games of the Finals was one in which Love didn't play when he sat because of a concussion. On the flip side, Boston had to of come into this contest anxious about the Cavs ability to connect from beyond the arc.

    Trump heads overseas, turmoil in his wake

    But a spokesman for the senator later said that Flynn still has time to comply if he chooses to. Cummings of Maryland, the top Democrat on the House Oversight Committee.
  • Trusts told to remain vigilant with updated cyber-attack guidance

    NHS computer systems are returning to normal after the ransomware cyber attack, health secretary Shona Robison has said.

    China says 68 countries, global organizations have signed OBOR pacts

    Xi said the Belt and Road Initiative has "no political agenda" and was meant to be an "open and inclusive platform for development".

    ICC Champions Trophy: Raina, Gambhir dropped again as Rohit, Shami make cut

    India will be taking on Pakistan, Sri Lanka and South Africa on 4th June, 8th June and 11th June respectively. Reportedly, the ICC has offered India another $100 million but that is yet to be accepted by the BCCI.
  • 'The Witcher Saga' heads to Netflix as TV series

    As we already know, HBO's most popular fantasy show is on its last season and there are no hints that it will be extended. The characters also have an incredible range of different tempers and attitudes that act in their own context.

    Foot Locker Stock Plunges on Sales Miss Amid Retail Headwinds

    Ferguson Wellman Capital Management Inc.'s holdings in Foot Locker were worth $344,000 as of its most recent filing with the SEC. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 12.22 and a beta of 0.57.

    India Names 15-Member Squad for Champions Trophy

    Rishabh Pant , Kuldeep Yadav , Shardul Thakur , Suresh Raina and Dinesh Karthik are the stand-by players for the ICC Champions Trophy.