Gen Z laments impact of accelerating inflation

Last year, Nigeria’s headline inflation reached a 17-year high at 21.47 percent in November. With the surge in fuel and food prices, and incessant hikes in interest rates, money in circulation got tighter and the younger generation (Gen-Z) felt it like they have never seen before.

The World Bank has recently said that the country’s accelerating inflation growth had eroded the N30,000 minimum wage by 35 percent, widening the poverty net with an estimated five million people in 2022.

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