Nigeria’s annual inflation rate increased for the fifth consecutive month to 34.19 per cent as residents of Africa’s most populous country grapple with a cost of living crisis.
According to the National Bureau of Statistics (NBS), released on Monday, the June figure is 0.24 per cent higher than the 33.95 per cent recorded in May. The lowest figure in 2024 was 29.90 per cent, recorded in January.
On a year-on-year basis, the headline inflation rate was 11.40 per cent points higher compared to the rate recorded in June 2023, which was 22.79 per cent.
