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.
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)