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Business News of Wednesday, 15 June 2022


Nigeria’s inflation rate surges to 11-month high at 17.71% in May 2022

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Nigeria’s inflation rate rose to its highest level in 11 months, rising from 16.82% recorded in April 2022 to 17.71%.

This 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.

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