Recent report by the National Bureau of Statistics revealed that Nigeria’s rate of inflation, which is measured by the country’s Consumer Price Index, rose to 12.40 per cent in the month of May 2020.
According to the National Bureau of Statistics in its Consumer Price Index May 2020 report released on Wednesday, the latest increase represents 0.06 per cent points higher than the rate recorded in April 2020, which was 12.34 per cent.
In the May 2020 report, the NBS stated that on a month-on-month basis, the headline index increased by 1.17 per cent in May 2020, which was 0.15 per cent rate higher than the 1.02 per cent rate recorded in April 2020.