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Inflation hits 24.08% as Nigerians struggle with higher food prices

Inflation hits 24.08% as Nigerians struggle with higher food prices

Nigeria’s annual inflation rate rose to 24.08 per cent in July, the highest in 18 years, driven by higher prices of food items, increased transport fares, reflecting the increasing struggle of households to meet daily feeding needs, worsened by the impact of fuel subsidy removal and continued depreciation of the naira.