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October 2022 CPI Report: Price Variation Continues Its Ascent

October 2022 CPI Report: Price Variation Continues Its Ascent

Headline Inflation rose to 21.09% YoY


Yesterday, the NBS released the inflation report for October 2022. As culled from the report, Headline inflation rose further to 21.09% YoY2
in the period. We observed that the steep rise in the Headline figure derives from the surge in the two (2) subcomponents. The Food Inflation sub-component surged 39bps3
from September to 23.72% in October 2022. Similarly, Core Inflation added 16bps to print at 17.76% in October 2022. On a Month-on-Month (MoM) basis, Headline Inflation tapered (-11bps) to 1.24% in October 2022 from 1.36% in September 2022.

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ARM Securities Limited
ARM Securities Limited

ARM Securities Limited is a full-service brokerage house that offers best-in-class brokerage services to local as well as foreign private and institutional investors. Formerly known as Hamilton Hammer, the Company commenced operation in 1994 and was acquired by ARM Investment Managers in 2008--an acquisition which has successfully re-positioned the company as a recognized brokerage firm in Nigeria. The Company is a dealing member of the Nigerian Stock Exchange (NSE) and is regulated by Securities and Exchange Commission (SEC). ARM Securities research team provides insightful commentaries on the Nigerian economy and its equity and debt markets using an approach which incorporates a thorough understanding of the fundamentals of the industries and companies under coverage. The research therefore adopts an integrated methodology of top-down analysis and bottom-up stock selection, which focuses on publicly quoted companies on the Nigerian Stock Exchange that are judged to offer the highest potential for earnings growth. In addition, its analysts provide periodic commentaries on a range of topical global and local issues which provide investing clients with a holistic view of the opportunities and risks in today’s financial market landscape. ​

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