Nigeria’s inflation rate increased to 18.60 per cent on a year-on-year basis in June, the National Bureau of Statistics has said.
It stated this in its Consumer Price Index June 2022 report.
The report showed the recorded increase in June is 0.84 percentage point higher compared to the rate in June 2021, which is 17.75 per cent.
This means that the headline inflation rate increased in the month of June 2022 when compared to the same month in the previous year (June 2021).
Increases were recorded in all COICOP divisions that yielded the Headline index.
On a month-on-month basis, the Headline inflation rate increased to 1.82 percent in June 2022, this is 0.03 percent higher than the rate recorded in May 2022 (1.78 percent).
The percentage change in the average composite CPI for the twelve months period ending June 2022 over the average of the CPI for the previous twelve months period is 16.54 percent, showing a 0.62 percent increase compared to 15.93 percent recorded in June 2021.
Oyo Chief Whip Denies Impeachment Plot Against Governor Makinde The Chief Whip of the Oyo…
Group Accuses Ogun Govt of Plot to Transfer Public Schools to Political Allies A civic…
Experts Reject World Bank Fuel Import Advice, Warn of Economic Setback for Nigeria Energy experts…
APC Adopts Senator Adeola (Yayi) for Ogun 2027 Governorship Race Ogun State Governor, Dapo Abiodun,…
Fresh Boko Haram Attack Leaves Colonel, Six Soldiers Dead in Borno Less than a week…
Shari’ah Council Denies Viral Prayer Claim, Reiterates Call for INEC Chairman’s Removal The Supreme Council…