Inflation & Prices
Nigeria Inflation Surge Puts Ninth Rate Hike in Row in Play
- Annual inflation quickened more than expected to 25.8% in Aug.
- The monthly inflation rate soared to a 15-year high of 3.2%
A trader displays her wares at Yaba market in Lagos.
Photographer: Benson Ibeabuchi/BloombergThis article is for subscribers only.
Nigeria’s inflation rate jumped to a more than 18-year high on rising energy and food prices, increasing the odds of a rate hike this month.
Consumer prices climbed an annual 25.8% in August, compared with 24.1% the previous month, according to data published on the National Bureau of Statistics’ website on Friday. That’s the highest level since August 2005 and above the 25% median estimate of eight economists in a Bloomberg survey. Monthly inflation soared to a 15-year high of 3.2%.