Nigeria’s inflation rate has increased to an 11-month high to hit 17.71 per cent in May 2022.
The National Bureau of Statistics (NBS) said this in its Consumer Price Index (CPI) report for 2022 released on Wednesday.
According to the report, May figure of 0.22 points is lower than the 17.93 per cent recorded in May 2021.
With the development, it means that the headline inflation rate slowed down in May 2022 compared to the same month in the previous year.
More to follow…
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
Donate Now
