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JUST IN: At 12.40%, Nigeria Hits Highest Inflation Rate In 2 Years

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’s has increased to 12.40% in May 2020, making it the highest recorded in the country in two years.

JUST IN: At 12.40%, Nigeria Hits Highest Inflation Rate In 2 Years
JUST IN: At 12.40%, Nigeria Hits Highest Inflation Rate In 2 Years

This is contained in the latest inflation report released by the National Bureau of Statistics (NBS) on Wednesday.

The composite food index rose to 15.04% (year-on-year) compared to 15.03% recorded in the previous month while core inflation also rose to 10.12% in May 2020, up by 0.14% points compared two 9.98% recorded in April 2020.

More details to follow…

Adelowo Adegboyega
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