The National Bureau of Statistics on Thursday released the Consumer Price Index which measured inflation with the index dropping from 17.24 percent in April to 16.25 percent year-on-year.

The NBS in the report stated on a month-on-month basis, the headline index rose by 1.88 percent in May representing a 0.28 percent points higher than the rate of 1.60 percent recorded in April.

The report reads in part, “The Consumer Price Index which measures inflation increased by 16.25 percent (year-on-year) in May 2017 compared to 17.24 percent in April.

“On a month-on-month basis, the Headline index increased by 1.88 percent in May 2017, 0.28 percent points higher than the rate of 1.60 percent recorded in April 2017

“Food Inflation increased by 19.27percent (year-on-year) in May 2017, down by 0.03 percent points from the rate recorded in April of 19.30 percent.”

Read more on Punch

Comments

Elsewhere on Ventures

Triangle arrow