Explainer: Why June inflation failed to reflect fuel price hike

Some economists have said it is still too early to gauge the true impact of the recent petrol subsidy removal and the unification of the foreign exchange rates on inflation figures.

“We believe that in the early days, the impact of subsidy removal on inflation, particularly core inflation, was less severe,” said Tajudeen Ibrahim, chief economist and head of research Chapel Hill Denham, an investment firm.