The National Bureau of Statistics (NBS) says Nigeria’s inflation rate rose to 33.95 percent in May, as prices of food and non-alcoholic beverages continued to surge.
NBS made this known in its consumer price index (CPI) report on Saturday.
“Looking at the movement, the May 2024 headline inflation rate showed an increase of 0.26% points when compared to the April 2024 headline inflation rate,” NBS said.
“On a year-on-year basis, the headline inflation rate was 11.54% points higher compared to the rate recorded in May 2023, which was 22.41%.”
Details later…
