#Cost Of Living Crisis

The UK Chancellor has warned of 'difficult decisions ahead' as new independent forecasts project a significantly bleaker economic outlook, signaling potential cuts to public spending and tax rises. This comes as households continue to grapple with persistent high inflation and a deepening cost of living crisis, intensifying pressure on the government to stabilize finances while mitigating public impact.

Nigeria's food inflation has hit a record high of 38.5% year-on-year, significantly deepening the country's cost of living crisis and straining household budgets. The surge is primarily driven by recent economic reforms, including fuel subsidy removal and currency depreciation, alongside local insecurity and supply chain issues.