Nigeria’s inflation rate surged to 34.19% in June 2024, marking the 18th consecutive month of increases
According to the National Bureau of Statistics’ latest Consumer Price Index and Inflation report, the rate rose by 0.24% compared to the previous month and 11.40% compared to June 2023.
The month-on-month inflation rate also increased by 0.17% relative to May 2024.
This persistent upward trend, which began in December 2023, has led to a significant rise in prices for goods and services, exacerbating economic hardship in the country.
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