This was 0.15 percent points lower the rate recorded in May (16.25 percent). Accordingly, this represents the fifth consecutive decline in the rate of inflation since January 2017.
A report from National Bureau of Statistics (NBS) stated that on a month-on-month basis, the Headline index increased by 1.58 percent in June 2017, 0.30 percent points lower than the rate of 1.88 percent recorded in May 2017. Month on Month inflation has cumulatively risen by 9.28% since January 2017.
The Food Index increased by 19.91 percent (year-on-year) in June 2017, down by 0.64 percent points from the rate recorded in May (19.27 percent) indicating continued pressure in food prices.
Price movements recorded by All Items less farm produce or Core sub-index rose by 12.50 percent (year-on-year) in June, down by 0.50 percent points from rate recorded in May (13.00) percent. This represents the 8th straight month of decline in the core index since November 2016.
WATCH TOP VIDEOS FROM NIGERIAN TRIBUNE TV
- Let’s Talk About SELF-AWARENESS
- Is Your Confidence Mistaken for Pride? Let’s talk about it
- Is Etiquette About Perfection…Or Just Not Being Rude?
- Top Psychologist Reveal 3 Signs You’re Struggling With Imposter Syndrome
- Do You Pick Up Work-Related Calls at Midnight or Never? Let’s Talk About Boundaries
and then