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HomeBusiness NewsNigeria Inflation Slows To 11.22 % In June Vs 11.40% In May...

Nigeria Inflation Slows To 11.22 % In June Vs 11.40% In May ~NBS

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Nigeria inflation rate slowed to 11.22 percent year-on-year in June from 11.40 percent the previous month, the National Bureau of Statistics (NBS) said on Monday.


Food inflation stood at 13.56 percent in June compared with 13.79 percent in May, while core inflation declined to 8.80 percent against 9.00 percent in May, the data bureau said.
On a month-on-month basis, the headline index increased by 1.07 percent in June 2019, this is 0.04 percent rate lower than the rate recorded in May 2019 (1.11) percent,” NBS said in it inflation data publication.
The Bureau said the percentage change in the average composite CPI for the twelve months period ending June 2019 over the average of the CPI for the previous twelve months period was 11.29 percent, similar to the 11.29 percent recorded in May 2019.
Nigeria inflation figure had risen to 11.40 percent in May from 11.37 percent in April.

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