January 2013 Inflation Alert

Bureau of Statistics (NBS), headline inflation rate rose to 9.0% year-on-year in the month of May 2015, representing a 0.3 percentage points increase from 8.7% in April 2015. This is the sixth consecutive increase in inflation rate and is also the highest inflation rate Nigeria has recorded since May 2013 (9%). While the CPI for food inflation rose by 9.8% in May (April: 9.5%), core inflation rate also increased to 8.3%, a 60 basis points change from 7.7% in April.