CPI inflation rate
The annual inflation rate in France likely quickened to 52 in May of 2022 the highest since September of 1985 and above market forecasts of 5 preliminary estimates showed. It was the steepest inflation rate since last August driven by prices of food and non-food products.
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Like most African countries Nigeria is grappling with rising prices of food as the continent is still largely dependent on agricultural imports especially.
. The rise in the inflation rate would be due to an acceleration in the prices of energy 28 vs 265 in April services 32 vs 3 food 42 vs 38 and manufactured goods 29 vs 26. Nigerias annual inflation rate accelerated for the third straight month to 1682 in April of 2022 from 1592 in the prior month.
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