ECONOMY: Nigerian Inflation Rate Increases - Media Gists BLog

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14 Jun 2016

ECONOMY: Nigerian Inflation Rate Increases



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Nigerian Inflation Rate Increases

NAIRA -A weak exchange rate as well as a removal of subsidy payments have driven a rise in prices of general commodities as investors express concern over the state of the economy.

The National Bureau of statistics has confirmed that the inflation rate in the country experienced yet another surge in the month of May. The figures show a 1.9 percent increase from 13.7% in the month of April.

 CPI index

The increase in fuel price to N145 per liter has seen a directly proportional rise in food prices. 

Culled: informationng 

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