Au Nigeria, l' inflation annuelle a atteint son plus haut niveau depuis 18 ans en juillet 2023, avec 24.08% compared to 22.79% in June. This inflation is exacerbating the cost of living crisis in Africa's largest economy.

Food inflation accounts for most of Nigeria's inflation basket. It reached 26.98% in July, compared to 25.25% in June. According to the statistics agency, “the year-on-year increase in food inflation was caused by the increase in prices of oil and fat, bread and cereals, fish, potatoes, yams and other tubers, fruits, meat, vegetables, milk, cheese, and eggs.”