Nigeria’s annual inflation rate climbed to a fresh 18-year high in June. This, after President Bola Tinubu scrapped fuel subsidies and allowed the currency to weaken before declaring a state of emergency to control the cost of staple foods, Bloomberg reports. Prices increased 22.79% in the year through June from 22.4% the previous month, according to the National Bureau of Statistics. The upswing was fuelled by a 25.3% increase in food prices. Photograph: Bloomberg