The country’s May inflation data is contained in the latest CPI report released on Thursday by the National Bureau of Statistics .
“Similarly, on a year-on-year basis, the headline inflation rate was 4.70 percentage points higher compared to the rate recorded in May 2022, which was . The bureau said in the month of May 2023, the average general price level was 0.03 percent higher relative to April 2023.According to NBS, the food inflation rate in May 2023 was 24.82 percent on a year-on-year basis. This is 5.33 percent points higher compared to what was recorded in May 2022 .The statistics body said the rise in food inflation was caused by increases in prices of oil and fat, yam and other tubers, bread and cereals, fish, potatoes, fruits, meat, vegetable, spirit.
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