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Nigeria’s consumer inflation rose slightly to 27.33% in annual terms in October from 26.72% in September, its bureau of statistics said on Wednesday.
Inflation in Africa’s biggest economy has been in double digits since 2016, eroding incomes and savings, and prompting the central bank to repeatedly hike interest rates.
President Bola Tinubu has been under pressure from labour unions due to the impact of reforms, including ending a costly decades-old petrol subsidy and restrictions on foreign exchange trading, that have increased price pressures.
