Economy: Nigeria’s Inflation Nose-Diving – NBS


The National Bureau of Statistics (NBS) on Monday has disclosed that during the month of June 2019 the general Nigerians inflation rate has crashed down by 0.18 percent which indicates win-win for the general well being of Nigerians.


The NBS revealed that the consumer price index, (CPI) which measures inflation increased by 11.22 percent (year-on-year) in June 2019.


It said this was as a result of a 0.18 percent points lower than the rate recorded in May 2019 (11.40) percent.


According to the Bureau, “Increases were recorded in all COICOP divisions that yielded the Headline index.


On a month-on-month basis, the Headline index has shot up by 1.07 percent in June 2019, this is 0.04 percent rate lower than the rate recorded in May 2019 (1.11) percent.


“The percentage change in the average composite CPI for the twelve months period ending June 2019 over the average of the CPI for the previous 12 months period was 11.29 percent, similar to the 11.29 percent recorded in May 2019.” (Vanguard)