Search

Nigeria’s Inflation Surges to 33.95% in May, Driven by Rising Food Costs

  • Nigeria’s annual inflation reaches 33.95% in May, driven primarily by food prices
  • Central Bank grapples with high inflation despite aggressive interest rate hikes

 

Abuja, Nigeria – Nigeria’s annual inflation continued its upward trend in May, increasing by 0.26 percentage points from the previous month to reach 33.95%, according to data released by the National Bureau of Statistics.

This article is free to read.

Sign up for free or sign in to continue
reading. Unlike our competitors, we don't force you to pay
to read the news but we do need your email address to
make your experience better.

Create your free account or sign in


Recent Business

A vibrant display of traditional dance in Botswana. Photo by Xitsundzuxo Himina @ Pexels
Why Botswana’s inflation surge signals wider risks for commodity economies
Read More »
Molten metal pouring from ladle in industrial foundry. Photo by Bence Szemerey @Pexels
Can Kipushi’s zinc boom in Congo redraw Africa’s commodity power balance?
Read More »
Bassirou Diomaye Faye, President of Senegal. Photo @ Office of President, Senegal/Facebook
Is Senegal drifting towards default as political rift deepens?
Read More »

Recent Politics

Senegal Finance Minister Cheikh Diba and IMF boss Kristalina Georgiva. Photo Kristalina Georgieva/X
Will Cheikh Diba’s market credibility outlast Sonko’s grip on Senegal?
Read More »
Hands preparing tea on a patterned rug with traditional bread and sugar in Abuja, Nigeria. Photo by Muhammad-Taha Ibrahim @Pexels
Nigeria’s sugar tax exposes Tinubu’s painful reform dilemma
Read More »
A scenic view of wind turbines at sunrise, capturing sustainable energy. Photo by Lorna Pauli @Pexel
Egypt’s green energy sprint masks a deepening gas crisis
Read More »

Latest Posts

Latest news insights