Africa's largest economy can't keep inflation under control
Afolabi Sotunde/Reuters
Africa's largest economy is failing to keep inflation under control.
Nigeria's inflation accelerated to 16.5% in June, up from 15.6% in the previous month, according to the National Bureau of Statistics.
That's the highest rate since October 2005 and above economists' expectations of an increase to 16.2%, according to the Bloomberg consensus.
The sharp increase in inflation comes after Nigeria finally did the painful thing everyone said it had to do: unpeg the naira from the US dollar. Читать дальше...