UPDATED: Nigeria’s inflation hits 22.79% as food prices rise

Nigeria’s annual inflation rate rose to 22.79 per cent in June from 22.41 per cent in the previous month, the National Bureau of Statistics (NBS) said Monday.

The statistics office said the June inflation rate showed an increase of 0.38 per cent points when compared to May 2023 headline inflation rate.

The NBS said on a year-on-year basis, the Headline inflation rate was 4.19 per cent points higher compared to the rate recorded in June 2022, which was 18.60 per cent.

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