The new raise will put more strain on the average Nigerian worker who is already spending about 60% of his earnings on feeding.
SB Morgen provides market intelligence and strategic communication services required for bridging the gap between African emerging market opportunities and investors from around the world.
The CPI reveals that both locally produced consumer goods and the imported goods have maintained fairly unstable prices over the last six months.
A rise will no doubt put more pressure on the average Nigerian worker who is already grappling with other social challenges as irregular salaries, fluctuating pump price and availability of petroleum products, insufficient power, etc.
Read more here
Increment in the prices of garri, yam, others in the coming weeks
Nigerians
are to pay even more for consumer goods in the coming weeks, following
an increase of about 10% over the last six months, according to the
Consumer Price Index (CPI) for the first half of 2015 as published
Wednesday by SB Morgen.The new raise will put more strain on the average Nigerian worker who is already spending about 60% of his earnings on feeding.
SB Morgen provides market intelligence and strategic communication services required for bridging the gap between African emerging market opportunities and investors from around the world.
The CPI reveals that both locally produced consumer goods and the imported goods have maintained fairly unstable prices over the last six months.
A rise will no doubt put more pressure on the average Nigerian worker who is already grappling with other social challenges as irregular salaries, fluctuating pump price and availability of petroleum products, insufficient power, etc.
“Living standards are expected to drop further with the upsurge in the price of consumables at a time when the average Nigerian is least empowered socially and financially to overcome the challenge posed by rising food and commodities price,” said Mr. Chinedu Ozordi, a director with SB Morgen.
The research, according to Mr. Ozordi, revealed that from a sample of 500 workers, 18 out of 20 workers who fall under the minimum wage category of N18, 500, spend almost 60% of their annual income on feeding, 20% on transportation and the other 20% on miscellaneous expenditure, leaving them with no savings.
According to the report, perishables, staples and edible consumables like tomatoes, pepper, yams, etc. recorded an average increase of 10% in price due to factors such as seasonal changes, increased production and handling costs and the weaker foreign exchange rates, prolonged period of fuel scarcity, etc. Household and personal hygiene products such as detergents, toiletries and cooking gas recorded minimal increase in prices as well.
Increment in the prices of garri, yam, others in the coming weeks
Nigerians
are to pay even more for consumer goods in the coming weeks, following
an increase of about 10% over the last six months, according to the
Consumer Price Index (CPI) for the first half of 2015 as published
Wednesday by SB Morgen.The new raise will put more strain on the average Nigerian worker who is already spending about 60% of his earnings on feeding.
SB Morgen provides market intelligence and strategic communication services required for bridging the gap between African emerging market opportunities and investors from around the world.
The CPI reveals that both locally produced consumer goods and the imported goods have maintained fairly unstable prices over the last six months.
A rise will no doubt put more pressure on the average Nigerian worker who is already grappling with other social challenges as irregular salaries, fluctuating pump price and availability of petroleum products, insufficient power, etc.
“Living standards are expected to drop further with the upsurge in the price of consumables at a time when the average Nigerian is least empowered socially and financially to overcome the challenge posed by rising food and commodities price,” said Mr. Chinedu Ozordi, a director with SB Morgen.
The research, according to Mr. Ozordi, revealed that from a sample of 500 workers, 18 out of 20 workers who fall under the minimum wage category of N18, 500, spend almost 60% of their annual income on feeding, 20% on transportation and the other 20% on miscellaneous expenditure, leaving them with no savings.
According to the report, perishables, staples and edible consumables like tomatoes, pepper, yams, etc. recorded an average increase of 10% in price due to factors such as seasonal changes, increased production and handling costs and the weaker foreign exchange rates, prolonged period of fuel scarcity, etc. Household and personal hygiene products such as detergents, toiletries and cooking gas recorded minimal increase in prices as well.
Increment in the prices of garri, yam, others in the coming weeks
Nigerians
are to pay even more for consumer goods in the coming weeks, following
an increase of about 10% over the last six months, according to the
Consumer Price Index (CPI) for the first half of 2015 as published
Wednesday by SB Morgen.The new raise will put more strain on the average Nigerian worker who is already spending about 60% of his earnings on feeding.
SB Morgen provides market intelligence and strategic communication services required for bridging the gap between African emerging market opportunities and investors from around the world.
The CPI reveals that both locally produced consumer goods and the imported goods have maintained fairly unstable prices over the last six months.
A rise will no doubt put more pressure on the average Nigerian worker who is already grappling with other social challenges as irregular salaries, fluctuating pump price and availability of petroleum products, insufficient power, etc.
“Living standards are expected to drop further with the upsurge in the price of consumables at a time when the average Nigerian is least empowered socially and financially to overcome the challenge posed by rising food and commodities price,” said Mr. Chinedu Ozordi, a director with SB Morgen.
The research, according to Mr. Ozordi, revealed that from a sample of 500 workers, 18 out of 20 workers who fall under the minimum wage category of N18, 500, spend almost 60% of their annual income on feeding, 20% on transportation and the other 20% on miscellaneous expenditure, leaving them with no savings.
According to the report, perishables, staples and edible consumables like tomatoes, pepper, yams, etc. recorded an average increase of 10% in price due to factors such as seasonal changes, increased production and handling costs and the weaker foreign exchange rates, prolonged period of fuel scarcity, etc. Household and personal hygiene products such as detergents, toiletries and cooking gas recorded minimal increase in prices as well.
No comments:
Post a Comment