Economy
Nigeria: Inflation Rate Rise To 34.19 Percent, Says NBS
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Nigeria: inflation Rate Rise to 34.19 Percent, Says NBS
PBy Our Reporter
The National Bureau of Statistics (NBS), on Monday, said Nigeria’s inflation rate currently stood at an all-time high of 34.19 percent in the month of June, 2024.
The NBS disclosed this development in its monthly inflation report on Monday.
It blamed the rate of increase on spiralling cost of food items, which, it said, pushed the monthly inflation figure to its present 34.19 percent.
The inflation rate in the month of May 2024 was 33.95 percent.
“In one month, the inflation rate was 2.31%. Food inflation remains high at 40.87% in June 2024. On a year-on-year basis, the headline inflation rate was 11.40% points higher compared to the rate recorded in June 2023, which was 22.79%”, the NBS stated. NNL.
