Nigeria to release June inflation Monday

The National Bureau of Statistics will officially announce on Monday its Consumer Price Index and Inflation Report for June 2024.

Recall that the NBS had earlier announced that Nigeria’s inflation rose for the 17th time straight in May 2024 to 33.95 percent.

It stated that rising food inflation increased to 40.66 percent in May.

Speaking on the country’s inflation in June 2024, the governor of the Central Bank of Nigeria, Olayemi Cardoso said there is a deceleration in the Month-on-Month inflation rates.

He noted that the Monetary Policy Committee will tame Nigeria’s inflation through conventional means.

He, however, projected that the country’s inflation rate will moderate in the coming months.

The Chief Executive Officer of Financial Derivatives, Bismarck Rewane had predicted that Nigeria’s inflation and food price hikes will decline from July to August 2024.