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Nigeria Consumer Prices (Dec.)

Nigeria’s headline inflation rate rose again to 28.9% y/y in December, as a weak naira continues to push up prices. Aggressive interest rate hikes are long overdue in order to bring inflation under control and also to help the naira achieve some semblance of stability. The longer the central bank remains missing in action, the stronger the evidence that President’s Tinubu’s policy shift is going in reverse.

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