According to a report by the National Bureau of Statistics (NBS), Nigeria’s inflation rate increased from 22.22% in April to 22.41% in May 2023.
Comparing the movement of inflation, the May rate showed a 0.19% point increase compared to the previous month’s headline inflation rate.
On a year-on-year basis, the May 2023 headline inflation rate was 4.70% points higher than the rate recorded in May 2022, indicating an increase in inflation compared to the same month of the previous year.
The NBS report also revealed that on a month-on-month basis, the headline inflation rate in May 2023 was 1.94%, slightly higher by 0.03% compared to April 2023. This means that, on average, the general price level increased by 0.03% in May relative to April.
The report highlighted that the average Consumer Price Index (CPI) for the twelve months ending in May 2023 increased by 4.75% compared to May 2022, with a percentage change of 21.20% over the previous twelve months.
Further analysis of the inflation rate showed that the urban inflation rate in May 2023 was 23.74% on a year-on-year basis, which was 5.50% points higher compared to May 2022. On a month-on-month basis, the urban inflation rate increased by 0.05% points from April 2023.
Similarly, the rural inflation rate in May 2023 was 21.19% on a year-on-year basis, indicating a 3.98% increase compared to May 2022. On a month-on-month basis, the rural inflation rate in May 2023 increased by 0.02% points compared to April 2023.
The report also provided corresponding twelve-month averages, stating that the urban inflation rate was 21.95% in May 2023, while the rural inflation rate was 20.50%. These figures represented increases compared to the corresponding averages reported in May 2022.
order periactin 4mg pills – cyproheptadine over the counter buy zanaflex medication
purchase voveran online – cost imdur 40mg nimotop tablet
baclofen 25mg cheap – feldene 20mg oral generic feldene 20 mg
where to buy rumalaya without a prescription – brand endep 10mg endep 50mg cheap
purchase mestinon sale – oral mestinon 60 mg azathioprine 25mg pill
purchase colospa without prescription – purchase etoricoxib generic cilostazol usa
diclofenac 100mg drug – order aspirin 75 mg for sale order generic aspirin 75mg
buy benemid no prescription – tegretol cost order tegretol 200mg generic
buy celecoxib 100mg pill – cheap urispas pill indomethacin cost
buy besifloxacin paypal – order besivance generic sildamax
buy gabapentin no prescription – where to buy azulfidine without a prescription buy sulfasalazine 500 mg pills
lasuna generic – buy lasuna generic purchase himcolin online cheap