Economic hardship in Nigeria has worsened as the country’s food inflation increased to 40.66 percent in May 2024 from 24.82 percent as recorded in the same period last year.the previous twelve-month average was 34.06 percent, which was a 10.41 percent points increase from the average annual rate of change recorded in May 2023 (23.6percentnt)
The development comes as Nigeria’s inflation increased for the 17th time to 33.95 percent in May from 33.69 percent.
Source:
Business – Daily Post Nigeria