Nigeria’s Headline Inflation Rate Rises to 22.79% in June, NBS Reports

Nigeria – The National Bureau of Statistics (NBS) has revealed that the country’s headline inflation rate increased to 22.79 percent in June, compared to the May 2023 headline inflation rate of 22.41 percent. The latest CPI and Inflation Report for June 2023 indicates a 0.38 percentage point rise in the headline inflation rate.

Furthermore, on a year-on-year basis, the headline inflation rate in June 2023 was 4.19 percentage points higher than the rate recorded in June 2022, which stood at 18.60 percent. This signifies an increase in the year-on-year headline inflation rate for June 2023 compared to the same month in the previous year.

Further details regarding the factors contributing to the rise in headline inflation rate are currently being compiled and will be released by the NBS in due course.

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