x

Nigeria’s Inflation Rises To 22.79% In June

Nigeria’s Consumer Price Index (CPI) rose to 22.79% in June from the 22.41% recoded in May 2023.

This is according to the latest CPI report released by the National Bureau of Statistic (NBS) on Monday.

The CPI measures the rate of change in prices of goods and services.

“In June 2023, the headline inflation rate rose to 22.79% relative to May 2023 headline inflation rate which was 22.41%. Looking at the movement, the June 2023 Headline inflation rate showed an increase of 0.38% points when compared to May 2023 headline inflation rate,” the Bureau stated.

The report also showed that food inflation spiked to 25.25% on a year-on-year basis which is higher than the 20.60% recorded in June 2022.

For the month under review, food prices rose to 2.40%, which is 0.21% points higher compared to the rate recorded in May 2023.

The year-on-year basis rate showed a 4.19% higher compared to the 18.60% rate recorded in June 2022.

“On a year-on-year basis, the Headline inflation rate was 4.19% points higher compared to the rate recorded in June 2022, which was 18.60%. This shows that the Headline inflation rate (year-on-year basis) increased in June 2023 when compared to the same month in the preceding year (i.e., June 2022).”

Hot this week

Hazras Charity Foundation Distributes Educational Kits to 1,000 Pupils in Kano and Jigawa

By Jabiru HassanThe Hazras Charity Foundation has successfully completed...

Chief (Dr.) Obele becomes the new Onu Igala, Ganaja Community

By Noah Ocheni, LokojaChief (Dr.) Isah Peter Obele...

Benue, Enugu Police Commands Strengthen Collaboration to Curb Interstate Crimes

By Isaac Kertyo, MakurdiThe Commissioners of Police in Benue...

Match fixtures

Friday 31 October 2025 Bundesliga20:30 CET AugsburgvDortmundLa Liga21:00 CET GetafevGironaFA...

Manchester United’s resurgence under Ruben Amorim continues, with the...

Both Real Madrid and Barcelona are looking to reset...

Real Madrid, Super League Backers Demand $4 Billion Compensation from UEFA

Real Madrid and the organisers of the European Super...

NWFL Confirms November 26 Kickoff for 2025/2026 Season

The Nigeria Women’s Football League (NWFL) has officially announced...

Match fixtures

Friday 31 October 2025 Bundesliga20:30 CET AugsburgvDortmundLa Liga21:00 CET GetafevGironaFA...

NIPR Institutes Annual PRICE Awards, Fixes 7th December for the Ceremony

PRESS RELEASEThe Nigerian Institute of Public Relations (NIPR)...

The State of Education and Youth Development in Delta State

By High Chief Sheriff George Mulade T. 400-Level International Relations...

Ethiopia and Eritrea: Lessons from a Long Road to Peace

After gaining independence in 1993, Eritrea and Ethiopia initially...

Related Articles

Popular Categories

spot_imgspot_img