Yemisi Izuora
The National Bureau of Statistics, NBS, has disclosed that the Consumer Price Index (CPI) which measures inflation increased to 11.40 per cent (year-on-year) in May from 11.37 per cent recorded in April.
The NBS made this known in its “CPI and Inflation Report’’ for May released in Abuja on Monday on its website.
The bureau said the figure was 0.03 per cent points higher than the 11.37 recorded in April in the period under review.
It said the increases were recorded in all Classification of Individual Consumption by Purpose divisions that yielded the headline index.
On a month-on-month basis, it said the headline index increased to 1.11 per cent in the period under review by 0.17 per cent points from 0.94 per cent recorded in April.