BREAKING: Nigeria's Inflation Rate Hits 22.79% In June | READ MORE
Faith Ukanwa
Jul 17, 2023
BREAKING: Nigeria's Inflation Rate Hits 22.79% In June | READ MORE
Nigeria's Inflation rate has hit 22.79% in June 2023 according to the National Bureau of Statistics (NBS).
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According to the "CPI and Inflation Report June 2023,ÔÇØ released by the Bureau on Monday, July 17, the rate increased from 22.41% in May 2023, to 22.79% in June 2023 (0.38% points ).
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"In June 2023, the Headline inflation rate rose to 22.79% relative to May 2023 headline inflation rate which was 22.41%ÔÇØ the document read.
The document said 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%.
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NBS said 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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— Faith Ukanwa