Nigeria’s inflation rate rose further to 12.56% In June (year-on-year), 0.16% points higher than the rate recorded in May 2020 (12.4%). This is according to the latest CPI report, released by the Nigerian Bureau of Statistics.
The report also showed that composite food index rose to 15.18% compared to 15.04% recorded in May 2020 while Core inflation, which excludes the prices of volatile agricultural produce that stood at 10.13% in June 2020 compared to 10.12% recorded in May 2020.
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This rise in the food index was caused by increases in prices of Bread and Cereals, Potatoes, Yam and other tubers, Fruits, Oils and Fats, Meat, Fish and Vegetables.
Details shortly…….
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