The National Bureau of Statistics (NBS) has released an updated statistic showing that Nigeria's inflation rate has increased to 22.41 percent. The Consumer Price Index Report, which was released on Thursday, revealed this.
In comparison to April 2023's headline inflation rate of 22.22 percent, the NBS report stated that in May 2023 the headline inflation rate rose to 22.41 percent.
When compared to the headline inflation rate from April 2023, the statistic reflected an increase of 0.19 percentage points.
According to the NBS data, the headline inflation rate was 4.70 percent higher in May 2022 (17.71 percent) than it was in May of the previous year.
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