Nigeria’s headline inflation increased to 11.40% in May 2019 from 11.37% recorded in April.
Data from the National Bureau of Statistics revealed that the figure is 0.03% points higher compare to April
According to the Bureau, increases were recorded in all consumption that yielded the headline index.
The consumer price index measures a country’s inflation and helps the government and policymakers to fix economic fundamentals and projections.
Some Analysts say the current upward movement may pose great uncertainty for the Nigerian market and affect the country’s exchange rate.