Inflation Rises to 12.56%

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By James Emejo

The Consumer Price Index, (CPI) which measures inflation rose to 12.56 per cent (year-on-year) in June compared to 12.40 per cent in May, according to the National Bureau of Statistics (NBS).

It noted that the 0.16 per cent rise followed increases recorded in all the divisions that determine the headline index.

According to the CPI figures for June which was released Friday by the statistical agency, month-on-month, the food sub-index increased by 1.48 per cent in June 2020, up by 0.06 per cent points from 1.42 per cent recorded in May.

The composite food index rose by 15.18 per cent compared to 15.04 per cent in the preceding month.

The all items less farm produce or core inflation, which excludes the prices of volatile agricultural produce stood at 10.13 per cent in June, up by 0.01per cent when compared with 10.12 per cent recorded in May.

Details later…