Fuel subsidy removal pushes up inflation to 22.4%
The inflation rate in Nigeria has risen by about two per cent in just one month.
The consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 22.41 percent in May 2023, up from 22.22 percent in the April.
The country’s latest inflation data is contained in the latest CPI report released on Thursday by the National Bureau of Statistics (NBS).
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