Business Headline News Nigeria

Nigeria’s Inflation rate rises to 18.6%

The nation has recorded an inflation rate of 18.6 percent for June 2022.

According to data from the National Bureau of Statistics, this represents an increase of 0.8 percent over the May Inflation rate of 17.71 percent and also the highest in 12 months.

Urban inflation rose to 19.09 percent, rural inflation rose to 18.13 percent while food inflation was 20.6 percent.

Also read; Inflation rate rises to 15.6% after eight months decline -NBS

Also read; World Bank ranks Nigeria among 10 countries with worst inflation

Reporting by Biodun Dare, Editing by Omotola Oguneye