Nigeria’s headline inflation rose by 10bps to 15.70% in February after a marginal decline in January, with the monthly price index rising from 0.16% to 1.63% due to the increase in diesel prices.
The cost of diesel, the major fuel for haulage, jumped by more than 150% within a three-month period, between January and March. Nigeria, an oil-dependent economy has been experiencing fuel shortages since the beginning of February.
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