Nigeria’s Inflation Rises To 18.6%

Nigeria’s Inflation Rises To 18.6%

Nigeria’s Inflation Rises To 18.6%

Nigeria’s Inflation Rises To 18.6%

In Nigeria, the annual inflation rate for the month of June 2022 jumped to 18.60 percent. In its Consumer Price Index June 2022 report, the National Bureau of Statistics revealed.

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When compared to the rate reported in June 2021, which was 17.75 percent, the increase in June was 0.84 percentage points higher.

This indicates that when compared to the same month in the previous year, the headline inflation rate rose in the month of June 2022. (June 2021).

Nigeria’s Inflation Rises To 18.6%

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).

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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.

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