Nigerian Monthly Inflation at 20-Year High on Iran War Oil Shock

Nigeria’s monthly inflation rate climbed to a more than two-decade high in March as surging fuel costs, driven by the US-Israel conflict with Iran, rippled through the economy.

Consumer prices jumped 4.2% on the month from 2% in February, while annual inflation quickened to 15.4% from 15.1% in February, according to National Bureau of Statistics data released Wednesday. That exceeded the 13.8% median estimate of three economists in a Bloomberg survey.