The composite food index stood at 15.18%, 0.14% points higher compared to 15.04% recorded in May 2020. Also, On month-on-month basis, the food sub-index increased by 1.48% in June 2020, up by 0.06% points from 1.42% recorded in May 2020.
The Nigerian Bureau of Statistics (NBS), in it’s latest Consumers Price Index (CPI) has disclosed.
This rise in the food index was caused by increases in prices of Bread and Cereals, Potatoes, Yam and other tubers, Fruits, Oils and Fats, Meat, Fish and Vegetables.
The ”All items less farm produce” or Core inflation, which excludes the prices of volatile agricultural
produce stood at 10.13% in June 2020, up by 0.01% when compared with 10.12% recorded in May 2020.
On month-on-month basis, the core sub-index increased by 0.86% in June 2020. This was down by 0.02% when compared with 0.88% increase recorded in May 2020.
