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October 2023 CPI Report: Rising Prices Remain Unabated

Yesterday, the National Bureau of Statistics (NBS) released the inflation report for October 2023. Headline inflation jumped by 61bps to reach 27.33% YoY
(vs 26.72% YoY in September 2023). This is on the back of increases in its two major sub-components, Food inflation (+88bps to 31.52% YoY) and Core inflation (+73bps to 22.58%). However, on a MoM basis, Headline inflation sustained its descent as it fell by 36bps to settle at 1.73% MoM (vs. 2.10% MoM in September 2023), following reductions in Food inflation (-54bps to 1.91% MoM) and Core inflation (-83bps to 1.39% MoM)

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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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