Inflation rate rose to 12.4 percent in May, 0.06 percent points higher than 12.34 percent recorded in April.
As Nigeria continues to deal with the economic implication of the COVID-19 pandemic, inflation rate rose to 12.40 percent in May 2020, recording 0.06 percent points higher than 12.34 percent recorded in April 2020.
This is detailed in the latest inflation report released by the National Bureau of Statistics.
The composite food index rose to 15.04 percent compared to 15.03 percent recorded in the previous month while core inflation also rose to 10.12 percent in May 2020, up by 0.14 percent points compared to 9.98 percent recorded in April 2020.
More details later…