Just in: Nigeria’s inflation rate rises to 22.79 in June

Headline inflation rate rose to 22.79 per cent in June relative to May 2023 headline inflation rate which was 22.41 per cent, the National Bureau of Statistics (NBS) has said.

In its CPI and Inflation Report June 2023, the Bureau noted that the figure indicates a 0.38 percentage point increase when compared to May 2023 headline inflation rate.

On a year-on-year basis, the Headline inflation rate was 4.19% points higher compared to the rate recorded in June 2022, which was 18.60%.

This shows that the Headline inflation rate (year-on-year basis) increased in June 2023 when compared to the same month in the preceding year (i.e., June 2022).

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