• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, July 12, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

JUST-IN: Nigeria’s Inflation Soars To New Height Of 17.71%

by Mark Itsibor
3 years ago
in Business, Cover Stories, News
Inflation
Share on WhatsAppShare on FacebookShare on XTelegram

Nigeria’s inflation has recorded significant rise within the last 11 months. Latest figure by the National Bureau of Statistics (NBS) has shown that in May 2022, the inflation rate increased to 17.71 per cent on a year-on-year basis.

Increases were recorded in all COICOP divisions that yielded the headline index, according to the figures that were released today.

Advertisement

On a month-on-month basis, the Headline inflation rate increased to 1.78 percent in May 2022, this is also 0.02 percent rate higher than the rate recorded in April 2022 (1.76) per cent. The percentage change in the average composite consumer price index for the twelve months period ending May 2022 over the average of the CPI for the previous twelve months period is 16.45 per cent, showing a 0.95 percent increase compare to the 15.50 percent recorded in May 2021.

Urban inflation rate increased to 18.24 per cent (year-on-year); this is a 0.27 percent decline compared to 18.51 per cent recorded in May 2021. On a month-on-month basis, the urban inflation rate rose to 1.81 per cent in May 2022, this is a 0.03 per cent increase compared to April 2022 (1.78).

The corresponding 12-month average percentage change for the urban index is 17.00 percent in May 2022. This is 0.91 per cent higher compared to 16.09 percent reported in May 2021.

Also, rural inflation rate increased to 17.21 per cent in May 2022 (year-on-year) basis; this is a 0.15 percent decline compared to 17.36 recorded in May 2021. On a month-on-month basis, the rural index rose to 1.76 per cent in May 2022, up by 0.02 per cent from the rate recorded in April 2022 (1.74), while the corresponding 12-month average percentage change for the rural inflation rate in May 2022 is 15.91 per cent. This is 0.97 per cent higher compared to 14.94 per cent recorded in May 2021.

RELATED

PDP Stakeholders In Kano Set To Meet Over Internal Disputes

PDP Stakeholders In Kano Set To Meet Over Internal Disputes

1 hour ago
Natasha Presents Bill For Ihima Federal Medical Centre

Natasha’s Team Submits Court Verdict CTC To Senate, Says Lawmaker To Resume July 15

1 hour ago

However, the latest NBS figure is 0.22 per cent points lower compared to the rate recorded in May 2021, which is (17.93) percent. This means that the headline inflation rate slowed down in the month of May when compared to the same month in the previous year (i.e. the year 2021).


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel



Tags: Nigeria’s Inflation
SendShareTweetShare
Previous Post

Makinde’s Impunity Forced Me Out Of PDP, Oyo Senator Tells Senate

Next Post

Tinubu: APC Group Calls For Adoption Of Niger Gov As VP

Mark Itsibor

Mark Itsibor

Mark Itsibor is a journalist and communication specialist with 10 years of experience, He is currently Chief Correspondent at LEADERSHIP Media Group and writes on Finance, Economy, Politics, Crime, and Judiciary. He has a B.Sc in Political Science, Post Graduate Diploma in Journalism (Print), and B.A in Development Communication. His Twitter handle is @Itsibor_M

You May Like

PDP Stakeholders In Kano Set To Meet Over Internal Disputes
News

PDP Stakeholders In Kano Set To Meet Over Internal Disputes

2025/07/12
Natasha Presents Bill For Ihima Federal Medical Centre
News

Natasha’s Team Submits Court Verdict CTC To Senate, Says Lawmaker To Resume July 15

2025/07/12
INEC Notifies Natasha, Akpabio Of Recall Process
News

Contempt: Natasha Fires Back, Appeals ₦5m Fine Over Facebook Post

2025/07/11
SGF Akume Denies Appointing Odunuga As Media Adviser
News

SGF Akume Denies Appointing Odunuga As Media Adviser

2025/07/11
Aso Rock Rats Invasion Story Meant To Deflect Buhari’s Illness – Garba Shehu
News

Aso Rock Rats Invasion Story Meant To Deflect Buhari’s Illness – Garba Shehu

2025/07/11
After Supreme Court Victory, Okpebholo Vows To Probe Obaseki
News

After Supreme Court Victory, Okpebholo Vows To Probe Obaseki

2025/07/11
Leadership Conference advertisement

LATEST

PDP Stakeholders In Kano Set To Meet Over Internal Disputes

Natasha’s Team Submits Court Verdict CTC To Senate, Says Lawmaker To Resume July 15

Contempt: Natasha Fires Back, Appeals ₦5m Fine Over Facebook Post

Liverpool To Retire Number 20 Jersey In Honour Of Diogo Jota

SGF Akume Denies Appointing Odunuga As Media Adviser

Aso Rock Rats Invasion Story Meant To Deflect Buhari’s Illness – Garba Shehu

After Supreme Court Victory, Okpebholo Vows To Probe Obaseki

Dafinone Hails Okpebholo’s Supreme Court Victory, Urges Inclusive Leadership

Troops Neutralise Notorious Kidnapper, Recover N13m Ransom In Kaduna

Mohbad: Nurse Risks Trial As Coroner Indicts Aloba Family, Music Industry

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.