Nigeria inflation hits six-year high

AFP, ABUJA: Inflation in Nigeria rose to a more than six-year high in May, hitting 15.6 per cent, the National Bureau of Statistics said yesterday.
The rise in the headline consumer price index, which measures inflation, accelerated by 1.9 points from its April year-on-year level of 13.7 per cent, the NBS said in an emailed statement.
The rate is the highest since February 2010, when inflation also stood at 15.6 per cent, according to the Central Bank of Nigeria (CBN).
The NBS attributed the rise to “an overall increase in general price level across the economy”, which has been battered by the global fall in oil prices since mid-2014.

Nigeria inflation hits six-year high

AFP, ABUJA: Inflation in Nigeria rose to a more than six-year high in May, hitting 15.6 per cent, the National Bureau of Statistics said yesterday. The rise in the headline consumer price index, which measures inflation, accelerated by 1.9 points from its April year-on-year level of 13.7 per cent, the NBS said in an emailed statement. The rate is the highest since February 2010, when inflation also stood at 15.6 per cent, according to the Central Bank of Nigeria (CBN). The NBS attributed the rise to an overall increase in general price level across the economy, which has been battered by the global fall in oil prices since mid-2014.