Nigeria Inflation Hits Six-Year High

Inflation in Nigeria rose to a more than six-year high in May, hitting 15.6 percent, the National Bureau of Statistics said on Tuesday.

The rise in the headline consumer price index, which measures inflation, accelerated by 1.9 points from its April year-on-year level of 13.7 percent, the NBS said in an emailed statement.

The rate is the highest since February 2010, when inflation also stood at 15.6 percent, according to the Central Bank of Nigeria (CBN).