Market News
Nigeria inflation edges up for second month in April - REUTERS
ABUJA, May 15 (Reuters) – Nigeria’s headline consumer inflation rose for the second month running in April, edging up to 15.69% year-on-year from 15.38% in March, data from the statistics office showed on Friday.
Africa’s most populous nation had made progress taming price pressures before the U.S.-Israeli war against Iran, with inflation easing for 11 straight months.
But the conflict in the Middle East has pushed up domestic fuel prices and fed through into food costs, the main driver of headline inflation.
Food inflation accelerated to 16.06% year-on-year in April from 14.31% in March, the National Bureau of Statistics said.
