Nigerian Inflation Accelerates Less Than Forecast in October
- Currency’s fall, supply chain disruptions fuel price pressures
- Central bank to decide whether to raise rates next week
A roadside fruit stall in Lagos, Nigeria.
Photographer: Damilola Onafuwa/BloombergThis article is for subscribers only.
Nigerian inflation accelerated at a slightly slower pace than economists expected in October, giving the central bank possible scope to slow the pace of interest rate increases.
The inflation rate accelerated to 21.1% in October, from 20.8% the month before, data released by the National Bureau of Statistics on its website on Tuesday showed. That’s less than the 21.3% median estimate of seven economists in a Bloomberg survey.