Nevertheless, we maintain that inflation in advanced economies will remain mostly at or below the 2% threshold. Near term, uptick would largely reflect the impact of rising crude oil prices due to OPEC+ support. At its March 2021 meeting, OPEC+ decided to maintain existing production cuts, exempting Russia and Kazakhstan who will increase production by 130 and 20 thousand barrels per day respectively. This decision spurred crude oil prices higher settling at USD68.83pb on Friday 6th March 2021.
Meanwhile, in economies like the UK and Euro area, food prices and prices of restaurant and hospitality services have continued upwards on the back of new lockdown measures in January 2021. We note also that global food inflation so far in the year has been led by higher prices of cereals especially in temperate regions where harvest season is expected only around July.
MERISTEM RESEARCH
There were tentative signs of improvement in the Nigerian private sector during the final month…
Stanbic IBTC Insurance Limited, a subsidiary of Stanbic IBTC Holdings and a leading life insurance…
It is a black Sunday in South Korea as the Jeju Air Plane Crash news hits…
Black Market Dollar To Naira Exchange Rate Today In Lagos, FCT, 29 December 2024. BrandNewsDay…
TeamApt Ltd’s Managing Director, Dennis Ajalie, has said that fintech companies and banks play very…
In a remarkable demonstration of resilience and strategic adaptation, Stanbic IBTC Bank, a member of…
This website uses cookies.