The NBS said food inflation was 24.82 per cent in May, up from 24.61 per cent in April.
its outlets nationwide to sell fuel between N480 and N570 per litre, an almost 200 per cent increase from the initial price below N200.in transportation fares and prices of goods and services by various percentages.
Inflation has remained high in Africa’s largest economy, prompting the apex bank to hike interest rates to their highest levels in nearly two decades. In an aggressive push to contain the nation’s inflationary pressure, the Central Bank of Nigeria, in May, raised its benchmark lending rate to 18.5 per cent.
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