JUST IN: Nigeria’s inflation surges to 11-month high at 17.71% in May 2022

Nigeria’s consumer price index (CPI), which measures inflation rose to its highest level in 11 months, from 16.82% recorded in April 2022 to 17.71% in May. 

Food inflation rose to 19.5% from 18.37% recorded in the previous month,

Core inflation quickened to 14.9% in the review month from 14.18% recorded in April 2022.

More to come…