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.
Click on the link below to access the full report:
