Nigeria’s headline inflation increased by 16.5% in
June from 15.6% in May, as the rate continues to increase for the fifth
consecutive month.
According to the National Bureau of Statistics, the
0.9% increase is attributed to a rise in energy costs, imported food items and
related products.
During the period, the food index rose at a faster
rate of 1.4%, month-on-month due to increase in the prices of meat, vegetables
and cereals.
While the urban index also jumped 11.9% in June, the
corresponding rural index increased from 10.4% to 10.9%.
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