Category Archives: Macroeconomics

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June 2024 Inflation Inflation peaked in June, likely to moderate in July Inflation rose faster than anticipated to 34.19% y/y in June 2024 (May’24: 33.95% y/y). This outturn was 19bps above Bloomberg consensus estimate of 34.00% y/y (Vetiva: 33.97% y/y). We attribute the surprise outturn to the brief disruptive impact of union agitations on the...

Ibukun Omoyeni* i.omoyeni@vetiva.com Inflation may likely peak in June In May, headline inflation rose by 26bps to 33.95% y/y (Apr’24: 33.69% y/y). The outturn was 55bps below the Bloomberg consensus estimate of 34.50% y/y (Vetiva: 34.28% y/y). We attribute the mild uptick to the fiscal intervention in the commodity market, and relative stability in the...