Cause Of Rise In Food Index- NBS Reveals
National Bureau of Statistic has reported that Nigeria’s inflation in the month of June hit 18.6 compared to the previous month.
This was disclosed in its Consumer Price Index June 2022 report on Friday.
Food inflation, which is closely watched index also rose to 20.6% in June 2022 from 19.5% recorded in May 2022.
It stated that the rise in the food index was caused by increase in prices of Bread and cereals, Food products, Potatoes, yam, and other tubers, Meat, Fish, Oil and fat, and Wine.
Also, the core inflation increased to 15.75% in the review month, rising by 0.85% points to 15.75% compared to the 14.9% recorded in the previous month.
The highest increases were recorded in prices of Gas, Liquid fuel, Solid fuel, Garments, Passenger transport by road, Cleaning, Repair and Hire of clothing, and passenger travel by air.
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