Inflation Rises to 34.19% 

James Emejo in Abuja

The Consumer Price Index (CPI), which measures the rate of change in goods and services, further rose to 34.19 per cent,  in June compared to 33.95 per cent in May, the National Bureau of Statistics (NBS) said Monday.

Year-on-year, headline inflation was 11.40 per cent higher than 22.79 per cent recorded in June 2023.

Food inflation increased by 15.62 per cent year on year to  40.87 per cent compared to 25.25 per cent in June 2023.

Month-on-month, the food index also increased to 0.26 per cent to 2.55 per cent compared to 2.28 per cent in May.

Similarly, the All items less farm produces and energy” or core inflation, which excludes the prices of volatile agricultural produces and energy increased to 27.40 per cent year on year in June, up by 7.34 per cent compared to 20.06 per cent in June 2023.

Month on month, the core index increased by 0.05 per cent to 2.06 per cent in June compared to 2.01 per cent in May.

Details later…..