Food prices edge Nigeria inflation to 34. 19%

Nigeria’s inflation woes: A perfect storm of internal and external pressures

inflation in Nigeria

Nigeria’s annual inflation rate ticked up as expected to 34.19 percent in June.

Month-on-month, headline inflation grew by 0.17 percent to 2.31 percent in June 2024 from 2.14 percent in May 2024 which is the first increase after two broad-based declines since October 2023.

According to the National Bureau of Statistics Inflation fastened to 34.19 percent June 2024 from 33.95 percent in May 2024, for the eightteenth consecutive month was driven by food and non-alcoholic beverages.

Eniola Olatunji

Eniola Olatunji is an experienced journalist at BusinessDay, where she has specialized in reporting on personal and business finance since March 2022. She focuses on creating engaging and precise news stories, with a keen emphasis on the fixed-income market, banking, personal finance, cost of living, and the Nigerian economy. Her work also encompasses extensive market research and economic trend analysis. Eniola is passionate about empowering individuals to make informed financial decisions and is dedicated to shedding light on the intricate workings of the economy. She holds a Bachelor of Science degree in Pure & Applied Chemistry from the University of Lagos. Eniola Olatunji was shortlisted for The Future Awards Africa Prize for Journalism..