Nigerian inflation quickened in March to its highest in five months on rising food prices, fuel shortages and supply shocks caused by the war in Ukraine. Consumer prices rose 15.9% from a year earlier, compared with 15.7% in February, according to data released by the National Bureau of Statistics on its website. That narrowly exceeded the median estimate of 15.8% from 10 economists in a Bloomberg survey. The headline number has now topped the ceiling of the central bank’s 6% to 9% target band for almost seven years. Still, it’s unlikely to persuade rate-setters to increase interest rates on May 24. Governor Godwin Emefiele has reiterated since last year that the central bank will only make policy adjustments once the economy’s recovery is on a sustainable path. Choked supply chains, partly due to Russia’s invasion of Ukraine, and an almost 100% increase in gasoline prices this year, are placing […]