NewsNigeria's Inflation Increased In June By 12.56 Percent – NBS

Nigeria’s Inflation Increased In June By 12.56 Percent – NBS

BEVERLY HILLS, July 17, (THEWILL) – The National Bureau of Statistics (NBS ) has revealed that the Consumer Price Index (CPI) that measures inflation increased in the country by 12.56 per cent in June 2020.

According to its website report titled “CPI June Report 2020, “The consumer price index, (CPI) which measures inflation increased by 12.56 percent (year-on-year) in June 2020.

This is 0.16 percent points higher than the rate recorded in May 2020 (12.40) percent.”

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It said Increases were recorded in all COICOP divisions that yielded the Headline index.

The NBS explained on month-on-month basis, the Headline index increased by 1.21 percent in June 2020. This is 0.04 percent rate higher than the rate recorded in May 2020 (1.17 percent).

ALSO READ: Nigeria’s Inflation Increased By 12.40 Percent In May – NBS

According to the report, the percentage change in the average composite CPI for the twelve months period ending June 2020, over the average of the CPI for the previous twelve months period was 11.90 percent, representing a 0.11 percent point increase from 11.79 percent recorded in May 2020.

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