Nigeria’s inflation picks up for first time in a year in test for Tinubu
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Nigeria's consumer inflation rate quickened for the first time in a year in March, data showed on Wednesday, in a headache for President Bola Tinubu's government ahead of elections scheduled for January next year.
Africa's most populous nation had started to get price pressures under control before the Iran war, with inflation falling for 11 straight months.
But the Middle East conflict has triggered a surge in domestic fuel prices, which has filtered through into food inflation, typically the main driver of the headline rate.
Headline consumer inflation rose to 15.38% year-on-year in March, up from 15.06% in February, the National Bureau of Statistics said.
Food inflation accelerated to 14.31% year-on-year, up from 12.12%.
At a market in the country's commercial capital and biggest city Lagos, vegetable sellers and truck drivers who spoke to Reuters this week said higher fuel costs were driving up the cost of produce and making their lives much harder.
"Our leaders should look into it," said Basiru Magaji, one of the drivers.
