Nigeria’s inflation rate drops for the third consecutive time by 0.18% to stand at 17.75% from 17.93% (year on year) which was recorded in May 2021.
For month-on-month basis, the headline index increased by 1.06 percent in June 2021 which is 0.05 percentage points higher than the rate recorded in May 2021.
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This is contained in the consumer price index report of national bureau of statistics on Friday. The report indicates that food inflation stands at 21.83% in June 2021 compared to 22.28% in May 2021 while core inflation which excludes the prices of volatile agricultural produce dropped from 13.15% in May to 13.09% in the June 2021.
In June 2021, all items inflation on year on year basis was highest in Kogi (23.78), Bauchi (20.67%), and jigawa (19.81%), while cross river (15.53%), delta (15.18%), and Abuja (15.15%) recorded the slowest rise in headline year on year inflation.
In June 2021, food inflation on a year on year basis was highest in Kogi with 30.34%, Enugu stands at 25.18%, and Kwara 24.78%. While Bauchi, river, and Abuja recorded the slowest rise in year on year inflation.
(Editor: Terverr Tyav)
