NBS inflation rate

The NBS noted that the urban inflation rate increased by 13.18 per cent year on year in June from 13.03 per cent recorded in May 2020 while the rural inflation rate increased by 11.99 per cent in June 2020 from 11.83 per cent in May 2020.

Inflation Report contains information on the current and expected inflation, analysis of underlying macroeconomic developments, explanation of the reasoning behind the decisions of the Executive Board and an assessment of the monetary policy efficiency as implemented during the previous quarter.

The consumer price index which measures inflation increased by 12.56 per cent (year-on-year) in June, the National Bureau of Statistics (NBS) disclosed this in its June CPI and inflation report on Friday.

NEWSDIARY COMMUNICATIONS LIMITED.Publisher/Editor-in-chief: Danlami Nmodu Inflation Rate June 2020 = 3.2 %. The National Bureau of Statistics (NBS) says Consumer Price Index, (CPI) which measures inflation increased to 12.56 per cent year-on-year in June 2020.The NBS made this known in its CPI and Inflation Report for June released on Friday.It stated that the report showed that June inflation was 0.16 per cent points higher than the rate recorded in May which was 12.40 per cent.It however disclosed that the increases were recorded in all Classification of Individual Consumption by Purpose(COICOP) divisions that yielded the headline index.The bureau explained that on month-on-month basis, the headline index increased by 1.21 per cent in June and this was 0.04 per cent rate higher than the rate recorded in May which was 1.17 per cent.It said the percentage change in the average composite CPI for the twelve months period ending June, over the average of the CPI for the previous twelve months period was 11.90 per cent, representing a 0.11 per cent point increase from 11.79 per cent recorded in May 2020.The NBS noted that the urban inflation rate increased by 13.18 per cent year on year in June from 13.03 per cent recorded in May 2020 while the rural inflation rate increased by 11.99 per cent in June 2020 from 11.83 per cent in May 2020.According to the bureau, on month on month basis, the urban index rose by 1.23 per cent in June 2020 up by 0.05 from 1.18 per cent recorded in May 2020 and the rural index also rose by 1.19 per cent in June up by 0.03 from the rate recorded in May 2020 which was 1.16 per cent.It stated that the corresponding 12 months year on year average percentage change for the urban index was 12.50 per cent in June 2020.It added that this was higher than 12.36 per cent reported in May 2020 while the corresponding rural inflation rate in June 2020 was 11.36 per cent compared to 11.26 per cent recorded in May 2020.

Integral parts of this report are inflation projection for eight quarters ahead, assumptions on which such projection is based and an analysis of the basic risks involved in achievement of target inflation. Databases Contact Useful Links Staff; Statistician General, National Bureau of Statistics, P. O. 2683, DODOMA. The National Bureau of Statistics (NBS) says Consumer Price Index, (CPI) which measures inflation increased to 12.56 per cent year-on-year in June 2020.

Nigeria’s Inflation Rises To 11.85% In November Says NBS | Niger Delta Today Nominal growth in the Education sector, in Q1 2020, was 7.03% (year-on-year), down by -2.61% points from the growth of 9.64% reported in the corresponding quarter of 2019, but down by –0.15% points when compared to the growth rate of 7.18% in Q4 2019.

Box. “This is 0.16 per cent points higher than the rate recorded in May 2020 (12.40 per cent),” it stated. (NAN)

Integral parts of this report are inflation projection for eight quarters ahead, assumptions on which such projection is based and an analysis of the basic risks involved in achievement of target inflation.

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NBS inflation rate
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NBS inflation rate