Nigeria: Inflation rises in May
Consumer prices rose 1.78% month on month in May, up from April’s 1.76%. This came on the back of slightly stronger price growth across the board.
Inflation in May rose to 17.7% from April’s 16.8%. However, annual average inflation eased to 16.3% in May from 16.4% in April. Lastly, core inflation, which excludes volatile agricultural produce, jumped to 14.9% in May from April’s 14.2%.