Nigeria’s inflation rate has increased to an 11-month high to hit 17.71 per cent in May 2022.
The National Bureau of Statistics (NBS) said this in its Consumer Price Index (CPI) report for 2022 released on Wednesday.
According to the report, May figure of 0.22 points is lower than the 17.93 per cent recorded in May 2021.
With the development, it means that the headline inflation rate slowed down in May 2022 compared to the same month in the previous year.
More to follow…