Ifeanyi Onuba, AbujaThe National Bureau of Statistics on Monday said the Consumer Price Index which measures inflation rate dropped by 0.37 percentage points from 11.61 per cent in May to 11.23 per cent in June. It said this is the seventeenth month since January 2017 that the index would be recording continuous decline. It reads in part, “The Consumer Price Index which measures inflation increased by 11.23 per cent year-on-year in June 2018. The NBS report said food index dropped to 12.98 per cent in June from 13.45 per cent recorded in May. On a month-on-month basis however, it said June inflation was highest in Kogi State (2.99 per cent), Oyo State (2.50 per cent), and Gombe State (2.01 per cent), while Plateau State (0.19 per cent), Kaduna State (0.22 per cent) and Edo State (0.41 per cent) recorded the slowest rise on a month-on-month inflation.

Source: Punch July 23, 2018 14:03 UTC