THE UNITY BANK DIGEST – JUNE 18, 2019

Dear subscriber,

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Nigeria’s headline inflation increased to 11.40% in May. This is the highest level in 2019 as seasonality takes its toll on the general price level. The core sub-index (inflation less seasonalities) declined by 30bps to 9.0%. This could be partly attributed to the fall in the average price of energy fuels such as kerosene, PMS and diesel, which decreased by 0.11%, 0.6% and 1.15% respectively in May.

Kwara state has taken its position back as the state with the lowest inflation (8.45%), pushing Cross River to the second position (9.68%). The states with the highest inflation rates were Kebbi (15.76%) and Bauchi (14.97%).

This edition of the Unity Bank Digest contains an analysis of recent economic and social developments such as the Q1’19 foreign trade report and the richest self-made women in 2019.

Enjoy your read.