Nigeria’s inflation eases ahead of key interest rate decision

• Headline inflation slows to 23.71% in April, defying expectations
• Pressure mounts on central bank to consider rate cut at May 20 meeting

Abuja, Nigeria – Nigeria’s inflation rate declined for the first time in four months, offering a tentative reprieve for consumers and investors ahead of a closely watched central bank meeting. Annual headline inflation eased to 23.71% in April from 24.23% in March, defying analyst expectations of another uptick after the previous month’s rise.