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BREAKING: Nigeria’s inflation hits 12.56% in June – NBS

The consumer price index which measures inflation rose to 12.56 percent in June, a new report by the National Bureau of Statistics has shown.

According to the report, which was released on Friday, the June inflation rate is 0.16 percentage points higher than the rate recorded in May 2020 (12.40 percent).

The CPI (consumer price index) measures the average change over time in prices of goods and services consumed by people for day-to-day living.

This is the highest point reached since March 2018 when inflation was at 13.34 percent.

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