According to the National Bureau of Statistics (NBS), Nigeria’s inflation rate rose to 16.82 percent in April 2022, the highest in eight months compared to 15.90 percent in the previous month.
Nigeria’s rising inflation rate could be a key risk to consumer spending in 2022, as it may reduce purchasing power, limiting spending on essentials, a recent report by Fitch Solutions states.
The report titled ‘Elevated Inflation Will Weigh on Consumer Spending’ predicts real household spe
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