Nigeria's annual inflation rate hits 28-year high: 33.95%

abuja, nigeria — Nigeria's annual inflation rose to a 28-year high of 33.95% in May, official data showed Saturday, worsening hardships that have fueled public anger against President Bola Tinubu's economic reforms. It was the 18th straight month that inflation has risen, up from 33.69% a month earlier. Price pressures have been spurred by Tinubu's reforms, chiefly slashing petrol and electricity subsidies and devaluing the naira currency twice within a year. Labor unions, which suspended a strike called to demand a new minimum wage...