Inflation increased by 12.56 percent in June – NBS

National Bureau of Statistics

By John Ofikhenua, Abuja

The National Bureau of Statistics (NBS ) has said Consumer Price Index (CPI) that measures inflation increased by 12.56 per cent in June 2020.

According to its website report titled “CPI June Report 2020, “The consumer price index, (CPI) which measures inflation increased by 12.56 percent (year-on-year) in June 2020.

This is 0.16 percent points higher than the rate recorded in May 2020 (12.40) percent.”

It said Increases were recorded in all COICOP divisions that yielded the Headline index.

According to the report, the percentage change in the average composite CPI for the twelve months period ending June 2020, over the average of the CPI for the previous twelve months period was 11.90 percent, representing a 0.11 percent point increase from 11.79 percent recorded in May 2020.