The latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) shows Nigeria’s inflation rate rose to 22.41 percent in May 2023, up from 22.22 percent in April 2023.
The CPI measures the rate of change in prices of goods and services.
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The report said May 2023 inflation rate showed an increase of 0.19% points when compared to April 2023 headline inflation rate.
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