Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal

The consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 22.41 percent in May 2023, up from 22.22 percent in the previous month.

The country’s May inflation data is contained in the latest CPI report released on Thursday by the National Bureau of Statistics (NBS).