Fri. Dec 4th, 2020

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Breaking: Inflation Rate Drops – Nigeria Bureau Of Statistics

1 min read

The National Bureau of Statistics has just reported on Monday that there’s a reduction in the country’s inflation rate by 0.18% for June.

The NBS said, “the consumer price index, (CPI) which measures inflation increased by 11.22% (year-on-year) in June 2019.”

The inflation drop was due to a 0.18% points lower than the rate recorded in May 2019 (11.40) %.

    According to it, “Increases were recorded in all COICOP divisions that yielded the Headline index. On a month-on-month basis, the Headline index increased by 1.07% in June 2019, and this is a 0.04% rate lower than the price recorded in May 2019 (1.11)%

    “The percentage change in the average composite CPI for the twelve months ending June 2019 over the average of the CPI for the previous twelve months period was 11.29%, similar to the 11.29% recorded in May 2019.”

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