Headline Inflation dips Further to 17.93% in May
Nigeria’s headline inflation rate dipped further to 17.93% in May from 18.12% in April, the National Bureau of Statistics said on Tuesday. The latest moderation was primarily driven by the temperance in food price pressures that left food inflation at 22.28% year on year from 22.72% in April 2021.
The moderation in food inflation also masked the 40 basis points increase in core inflation to 13.15% year on year in May, from 12.74% in April 2021.
The post Headline Inflation dips Further to 17.93% in May appeared first on MarketForces Africa.
source https://dmarketforces.com/headline-inflation-dips-further-to-17-93-in-may/