The National Bureau of Statistics (NBS) has said the high cost of food items and fuel increased Nigeria’s inflation in May 2022, putting it at 17.7 per cent.
The agency stated this in its report on Nigeria’s Consumer Price Index (CPI) which measures the rate of inflation.
Explaining, NBS noted that the new figure was occasioned by the increasing prices of gas, liquid fuel, bread and cereals, adding that the soaring prices of potatoes, yam, and other tubers, wine, fish, meat, and oils, among others, also influenced the inflation rate.
According to the agency, the inflation figure was…
Source: AgroNigeria
Read the full article here
