By Our Reporter
The National Bureau of Statistics (NBS) reported an increase in the inflation rate from 33.95% in May 2024 to 34.19% in June 2024. This was detailed in their “CPI and Inflation Report June 2024.”
The report highlighted:
– A 0.24 percentage point increase in the headline inflation rate from May to June 2024.
– Year-on-year, the headline inflation rate for June 2024 was 11.40 percentage points higher than June 2023, which was 22.79%.
– On a month-on-month basis, the inflation rate in June 2024 was 2.31%, up from 2.14% in May 2024.
This indicates a higher rate of increase in the average price level in June 2024 compared to May 2024.