…Keeps soaring, amidst severe economic challenges
Nigeria’s inflation rate has surged to 22.04%, the highest in over 17 years, leaving many citizens grappling with rising costs of goods and services.
From food items to other essential commodities, to transportation, the price hikes are being felt across all sectors.
Economists warn that the increase in inflation is driven by several factors, including global economic pressures, a devaluing naira, and the continued rise in fuel prices.
Nigerian families, especially those in lower-income brackets, are facing increased hardship as they struggle to meet basic needs.
SOURCE: uhurutimes.com