ABUJA (Reuters) – Nigeria’s inflation payment rose for the 2nd straight month in October, advancing to 33.88% in annual phrases from 32.70% in September, data from the statistics agency confirmed on Friday.

Inflation quickened sharply in the 2nd half of last year after President Bola Tinubu devalued the nation’s naira forex and slash subsidies to study up on to design shut financial growth and shore up public funds.

It began to ease in July this year as the affect of the naira devaluation began to recede, ahead of a series of petrol mark will increase all all over again spurred inflationary pressures, exacerbating the worst mark-of-residing disaster in a long time in Africa’s most populous nation.

The central monetary institution has hiked hobby rates five times this year to study up on to procure inflation under establish a watch on. It holds one more payment-atmosphere assembly later this month.