Economics
Nigeria Inflation Quickens to Fastest Pace in Almost 6 Years
- Government increased the gasoline price cap last week
- 13.7% rate matches median of economists surveyed by Bloomberg
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Nigerian inflation accelerated for a sixth consecutive month in April and at the highest pace since August 2010, after an increase in gasoline and electricity prices in Africa’s largest economy.
The inflation rate rose to 13.7 percent from 12.8 percent the month before, the Abuja-based National Bureau of Statistics said in an e-mailed statement, the same median estimate of 14 economists surveyed by Bloomberg. Prices rose 1.6 percent in the month.