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Inflation rate jumps to 12.40%, highest

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Nigeria inflation rate has risen to 12.40 percent from 12.34 percent recorded in April 2020.

This is detailed in the latest inflation report released by the National Bureau of Statistics (NBS).

The composite food index rose to 15.04% (year-on-year) compared to 15.03% recorded in the previous month while core inflation also rose to 10.12% in May 2020, up by 0.14% points compared two 9.98% recorded in April 2020.

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