Nigerian Inflation at Almost 18-Year High Ahead of Rate Decision

Nigerian inflation quickened at its fastest pace in almost 18 years, placing pressure on the central bank to extend its longest cycle of monetary tightening since 2011 next week.

(Bloomberg) — Nigerian inflation quickened at its fastest pace in almost 18 years, placing pressure on the central bank to extend its longest cycle of monetary tightening since 2011 next week.

The inflation rate rose to 21.9% in February from 21.8% a month earlier, according to data published on the National Bureau of Statistics’ website on Wednesday. The median estimate of nine economists in a Bloomberg survey was 21.8%.

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