Nigeria’s headline inflation rate edges to 34.19 per cent in June 2024 up from 33.95 per cent recorded in May 2024. The headline inflation increases by 0.24 per cent. Data from the Nigeria Bureau of Statistics (NBS) shows that the annual inflation rate has surged by 11.4 per cent highest over the year indicating a persistent upward trend in prices. Month-on-month, headline inflation grew by 0.17 per cent to 2.31 percent in June 2024 from 2.14 percent in May 2024.

The NBS report also provided insights into the sectoral performance, showing that the food sector recorded the highest inflation rate, followed by the transportation and housing sectors.