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BREAKING: Inflation Rate Surges To 11-Month High At 17.71% In May 2022

Inflation Rate has surged to an 11-month high at 17.71% in May 2022.

 

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Newsonline reports that Nigeria’s inflation rate rose to its highest level in 11 months, rising from 16.82% recorded in April 2022 to 17.71%.

 

BREAKING: Naira Falls To Lowest On Record, See New Exchange Rate

 

The new inflation high, NewsOnline Nigeria understands is according to the recently released Consumer Price Index report, released by the National Bureau of Statistics (NBS).

 

Food inflation rose to 19.5% from 18.37% recorded in the previous month, while core inflation hit 14.9% in the review month.

 

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