Nigeria’s inflation rose for the sixth consecutive month to reach a 17-year high

Posted on AllSides August 16th, 2022
From The Center
REUTERS/TEMILADE ADELAJA

The rise in food and airline ticket prices in Nigeria over the past year continues to show up in the data. In July, Nigerians paid 19.64% more for goods and services than they did in the same month last year, according to the latest inflation report (pdf) from the National Bureau of Statistics today (Aug. 15).

With that figure, Nigeria has now had six consecutive months of increased inflation. The July 2022 inflation rate is Nigeria’s highest since 2005.

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