Nigeria’s economy is feeling the heat as inflation rates soared to their highest levels in May, putting pressure on families and businesses across the country.
The latest data shows prices of basic goods and services have jumped significantly, making everyday living more expensive for millions of Nigerians.
Experts attribute the spike to a combination of factors including supply chain disruptions, rising fuel costs, and currency fluctuations.
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Consumers are feeling the pinch, with many cutting back on non-essential spending and seeking creative ways to stretch their budgets.
Government officials have promised to implement measures aimed at controlling inflation, but economists say it will take time before relief is felt on the ground.
For now, Nigerians are bracing themselves for a tough economic season ahead.
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