Soaring Food, Energy Costs Push Inflation to 15.69%

Soaring food and energy prices have driven inflation in many emerging economies to around 15.7% year‑over‑year, according to recent data from the International Monetary Fund and national statistics agencies. The spike is largely due to global commodity shortages, higher freight costs, and domestic supply chain disruptions, which raise the cost of basic staples and fuel, pushing overall consumer price indexes to double‑digit levels. Policymakers are facing pressure to tighten monetary policy while trying to protect vulnerable households from the sharp rise in living costs. Views Nigeria