Nigeria's annual inflation rises to highest level since 2005

The National Bureau of Statistics said inflation rose for the sixth straight month, hitting 19.64% from 18.60% year on year in June.Register now for FREE unlimited access to Reuters.comInflation has been in double digits in Africa's biggest economy since 2016, fuelled partly by a weakening of its naira currency .

Core inflation, which excludes prices of farm produce, was up 16.26% from the same period last year, with gas, liquid and solid fuel, transportation by road and air, garments and hire of clothing among contributing factors. The naira currency has been weakening on the parallel market due to a scarcity of foreign currency since July 2021, when the central bank stopped forex sales to retail currency traders to ease pressure on reserves and support the official market.Policymakers argue persistent inflationary pressures are structural and largely related to imports.

He doesn't know how to lie . Give us the % weyré Junkalist.

Same way it rose everywhere

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