Nigeria’s inflation figure has reached a new height, hitting 34.19 percent for June 2024.
According to the latest data from the National Bureau of Statistics (NBS), this is an increase of 0.24 percent points when compared to the inflation figure for may 2024, while on year-on-year basis, the headline inflation rate stands at 11.40 percent points higher when compared to the rate recorded in June 2023, which was 22.79 percent.
According to the NBS, this hike was triggered by a rise in the average prices of food items such as groundnut oil, palm oil, water yam, cocoyam, cassava, tobacco, catfish, croaker, mudfish fresh, snail, among other food items.