Economics
Nigeria's Inflation Rises on Food Costs and Weak Currency
- Inflation accelerated to 12.4% in May from 12.3% in April
- Food inflation rate rose to 15.04%, highest since March 2018
Vendors sell fresh produce on stalls at Utako Ultra Modern market in Abuja.
Photographer: KC Nwakalor/BloombergThis article is for subscribers only.
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Nigeria’s inflation rate rose for the ninth straight month in May as food prices continue to climb and the currency remain under pressure.