With increasing prices diminishing the welfare of Nigerian households, the World Bank has projected that Nigeria may have one of the highest inflation rates globally in 2022.
The global financial institution in its November edition of its Nigeria Development Update disclosed that the country’s inflation rate is expected to be the seventh-highest among Sub-Saharan African countries this year, maintaining that high inflation will hamper the country’s attempt to achieve economic recovery and erode the purchasing power of most vulnerable households.
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