Soaring Food, Energy Costs Push Inflation to 15.69%

*Severe in Sokoto, Bauchi, Zamfara, others

*To boost confidence, transparency, Cardoso unveils revised FX manual

*Policy takes effect June 1, warns operators against misconduct

James Emejo in Abuja

The Consumer Price Index (CPI), which measures the rate of change in prices of goods and services, increased to 15.69 per cent in April compared to 15.38 per cent in March, the National Bureau of Statistics (NBS), disclosed yesterday.The latest inflation report was released on the same day the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, officially launched the fourth edition of the bank’s Foreign Exchange Manual, positioning it as a cornerstone of ongoing reforms aimed at deepening liquidity, strengthening transparency and stability, and restoring confidence in the nation’s FX market.For the NBS report, this is the second increase in headline inflation after 13th consecutive months of disinflation.The spike may not be unconnected to the impact of global headwinds occasioned by the current war in the Middle East between the US -Israel and Iran, leading to higher energy prices among others.