Business
Nigeria’s Consumer Inflation Rises
Nigeria’s consumer inflation rose to its highest in four months in November as the impact of the country’s worst flooding in 50 years pushed up the cost of food, data showed on Monday.
Headline inflation quickened to 12.3 percent year-on-year in November, from 11.7 percent in October and the highest since July, the National Bureau of Statistics (NBS) said.
Food inflation, the biggest contributor to the consumer index, rose to 11.6 percent year-on-year in November, from 11.1 percent in October.
“Higher food prices continue to reflect the impact of recent floods on the production of farm produce, (and the) resulting difficulty of moving food products to markets across the country,” the NBS said in a report.
Nigeria’s worst flooding in at least half a decade between July and mid-October killed 363 people and displaced 2.1 million, the national emergency agency said.
Core inflation, which excludes volatile agriculture items, jumped to 13.6 percent year-on-year in November, from 12.4 percent in October. The central bank closely watches the core index when making interest rate decisions.
“Increases in the core index was as a result of … higher housing, electricity, gas (prices) … in particular rent prices, increased liquid fuel prices such as kerosene … air transportation costs, and clothing prices,” the NBS said.
Nigeria’s central bank kept interest rates on hold at 12 percent last month for the seventh time in a row, resisting calls to reduce lending costs because of concerns over inflation.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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