Nigeria Inflation Trails Estimates, Revives Rate-Cut Case (opens original article in a new tab)

Nigeria's inflation rate rose slower than expected in May, potentially supporting a case for interest-rate cuts following a US-Iran deal on the Strait of Hormuz.

• Nigeria's annual inflation rate increased to 15.9% in May, below the expected 16.2%
• The US-Iran deal to reopen the Strait of Hormuz may ease price pressures and support potential interest-rate cuts
• Core inflation rose to 16.8% as food prices increased by 16.96%