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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.

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