In Nigeria, the annual inflation rate for the month of June 2022 jumped to 18.60 percent.
In its Consumer Price Index June 2022 report, the National Bureau of Statistics revealed.
When compared to the rate reported in June 2021, which was 17.75 percent, the growth in June was 0.84 percentage points greater.
This indicates that as compared to the same month in the previous year, the headline inflation rate rose in the month of June 2022. (June 2021).
All COICOP divisions that produced the Headline index showed increases.
The headline inflation rate climbed month over month to 1.82 percent in June 2022, 0.03 percent more than the rate seen in May 2022. (1.78 percent).
The average composite CPI for the twelve months ending in June 2022 is 16.54 percent more than the average CPI for the twelve months before to that period, a rise of 0.62 percent from the 15.93 percent reported in June 2021.