Nigeria’s Inflation rate skyrockets by 12.56% – NBS

Bassy Eduno

The National Bureau of Statistics (NBS ) has announced increase of in Consumer Price Index (CPI) that measures inflation rate in the month of June, 2020.

According to the official website report titled “CPI June Report 2020, the consumer price index, (CPI) which measures inflation increased by 12.56 percent on annual basis indicated that nation’s economic recorded 0.16 percent points higher than the rate recorded in May 2020 which stood at 12.40 percent.

CPI June Report 2020 has it that, a skyrocketed increase 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).

According to the report, the implication of this skyrocketed increase is that, 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.

One thought on “Nigeria’s Inflation rate skyrockets by 12.56% – NBS

  • December 20, 2020 at 9:53 pm

    An impressive share, I simply with all this onto a colleague who was simply carrying out a little analysis for this. And that he in truth bought me breakfast since I ran across it for him.. smile. So i want to reword that: Thnx for the treat! But yeah Thnkx for spending some time to talk about this, I feel strongly concerning this and love reading regarding this topic. Whenever possible, as you become expertise, do you mind updating your blog post with an increase of details? It truly is highly a good choice for me. Big thumb up due to this post!

Comments are closed.

Copyright © 2020 Grassroot Hot News. All rights reserved.Designed by Inclide