Inflation Rises Further to 15.93% Amid Food, Energy, Commodity Price Pressures

• Severe in Yobe, Anambra, Sokoto, others

James Emejo in Abuja

The Consumer Price Index (CPI), which measures the rate of change in prices of goods and commodities, increased further to 15.93 per cent in May, compared to 15.69 per cent in April, National Bureau of Statistics (NBS) said yesterday.

The latest increase marks the third consecutive rise in inflation after a prolonged period of disinflation, suggesting that underlying price pressures in the economy remains persistent, despite recent moderation in monthly price movements.

According to the CPI report, for the review period, month-on-month, headline inflation eased to 1.75 per cent in May, from 2.13 per cent in the preceding month, indicating that although prices continued to rise, the pace of increase slowed compared to April.