Nigeria's Input Cost Inflation Slows to Weakest Rate in Five Years - Stanbic IBTC Report

The report indicates that input cost inflation in Nigeria's private sector has slowed to its weakest rate in nearly five years, offering respite to businesses. The Stanbic IBTC Bank Nigeria PMI report for November shows a gradual increase in costs, with purchasing prices and staff costs recording softer gains.

Despite this, output prices rose at the slowest rate since April 2020. The PMI stood at 53.6 in November, slightly below October's 54.0, signaling a solid improvement in business conditions.

The report also highlights increased sales, new product launches, better customer engagement, and support for output growth across major sectors.