Inflation Rate has surged to an 11-month high at 17.71% in May 2022.
Newsonline reports that Nigeria’s inflation rate rose to its highest level in 11 months, rising from 16.82% recorded in April 2022 to 17.71%.
The new inflation high, NewsOnline Nigeria understands is according to the recently released Consumer Price Index report, released by the National Bureau of Statistics (NBS).
Food inflation rose to 19.5% from 18.37% recorded in the previous month, while core inflation hit 14.9% in the review month.
More details soon…