Bicycles, other transport drive Nigeria inflation in April

INTERNATIONAL – Nigeria consumer prices rose at the same pace in April as in March despite disruptions to economic activity due to the coronavirus pandemic and the impact of a weakened currency on prices.
Inflation was unchanged at 12.3%, the Abuja-based National Bureau of Statistics said in a report published on its website Thursday. The median of three economists’ estimates in a Bloomberg survey was 12.3%. Costs increased 1.02% in the month and annual food inflation accelerated to 15%, the highest since March 2018.
The highest increases were recorded in prices of bicycles, passenger transport, paramedical services, hospital services, pharmaceutical products, medical services, motor cycles and major household appliances, the statistics agency said.