Published On: Wed, Jul 16th, 2014

Inflation rises to 8.2 percent in June

market setting_inflation_gdpNigeria’s consumer inflation rose for the fourth straight month to 8.2 percent in June, from 8 percent in May, driven by higher food prices, the Nigeria Bureau of Statistics (NBS) said on Wednesday.

Food inflation, which is the biggest contributor to the headline index, rose 9.8 percent year-on-year in June, up from 9.7 percent the previous month.

” This is the fourth consecutive month of year-on-year increases in the Headline index since the pace of price increases eased in February,” the statistics bureau said in its report.

The bureau noted that prices were pushed higher as a result of higher prices in the Bread and Cereals, Meats, Fish, and Dairy groups.

 

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  1. Suxes says:

    The cause of this increase cannot be far fetched as most farmers located in the Northern part of the country have started relocating to other parts of the country they consider to be more secure thereby abandoning their farmlands. I’m sorry to say but going by the political instability in the North there isn’t hope for the recovery of the index anytime soon until things begin to ease out.

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