Inflation & Prices
Nigeria’s March Inflation Surges to 22% on Rising Food Costs
- Rising food and beverage costs contribute most to inflation
- Central bank may keep hiking rates to cool inflation
A street vendor carries bread and food items in Lagos.
Photographer: Damilola Onafuwa/BloombergThis article is for subscribers only.
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Annual inflation in Africa’s biggest economy quickened to 22% in March from 21.9% in February, according to data published on the National Bureau of Statistics’ website Saturday. The median estimate of eight economists in a Bloomberg survey was 21.8%.