Soaring Food, Energy Costs Push Inflation to 15.69%

Soaring food and energy prices have driven inflation to an annual rate of 15.69%, the highest level in decades. The surge reflects sharp increases in staple food items—such as grains, meat and dairy—and higher costs for gasoline, diesel and electricity, often caused by supply chain disruptions, adverse weather, and geopolitical tensions. The combined rise in these essential categories pushes the overall consumer price index upward, eroding purchasing power and prompting central banks to consider tighter monetary policy to curb inflation. Views Nigeria