Macroeconomic Update | Post – Inflation | June 2020

Headline inflation for the month of June 2020 increased by 12.56%YoY up from 12.40% recorded in May 2020. The uptick in headline inflation was triggered by higher food prices as the Food Index increased by 15.18%YoY (vs 15.04% in May 2020), as well as the core index climbing higher by 10.13% YoY (vs 10.12% in May 2020). We expect prices to remain elevated in the coming months mainly on account of the Naira devaluation and the continued land border closure.

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Post-Inflation Update June 2020


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