Inflation Climbs to 11.40% in May

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By James Emejo in Abuja

The Consumer Price Index (CPI) which measures inflation, again rose to 11.40 per cent year-on-year in May compared to 11.37 per cent in April, according to the National Bureau of Statistics (NBS).

According to the CPI figures for May which was released by the NBS Monday, core inflation, however, stood at 9.0 per cent compared 9.3 per cent in the preceding month.

The composite food index rose by 13.79 per cent in the period under review compared to 13.70 per cent in April.

Details later…