Nigeria’s inflation rate climbs to a brand new top, reaching 34.19% in June 2024, based on the Nationwide Bureau of Statistics (NBS).
The NBS knowledge reveals a notable enhance within the inflation fee, with a 0.24 share level rise from Could 2024, highlighting the severity of the situation.
“In June 2024, the headline inflation fee elevated to 34.19% relative to the Could 2024 headline inflation fee, which was 33.95%. Wanting on the motion, the June 2024 headline inflation fee confirmed a rise of 0.24% factors when in comparison with the Could 2024 headline inflation fee.
“On a year-on-year foundation, the headline inflation fee was 11.40% factors greater in comparison with the speed recorded in June 2023, which was 22.79%,” the NBS mentioned in its Shopper Worth Index (CPI).
The Shopper Worth Index (CPI) launched by the NBS on Monday, July 15, measures the common change over time within the prices of goods and services consumed for day by day residing.
The NBS reported that the year-on-year headline inflation fee noticed a major rise in June 2024 in comparison with June 2023.
On a month-to-month foundation, the headline inflation fee for June 2024 was 2.31%, a rise of 0.17% from the two.14% recorded in Could 2024.
