Nigeria’s inflation rate jumped by 0.38 to 22.79% in June from 22.41% the previous month, according to data released on Monday by the National Bureau of Statistics (NBS).

The report made available on the official Twitter page of NBS revealed that the headline inflation on a year on year basis rose by 4.19 per cent from 18.60 per cent in June 2022 to 22.79 per cent last month.

“This shows that the Headline inflation rate (year-on-year basis) increased in June 2023 when compared to the same month in the preceding year, June 2022,” the report partly said.

The statistics bureau also revealed that food inflation went up by 0.43 per cent in June from the 24.82 per cent recorded in May.

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The continued rise comes just as the president Bola Tinubu adminstration declared an immediate State of Emergency on food insecurity to tackle the increase in food prices.

Move by President Bola Tinubu to remove subsidy on fuel has adversely affected prices of commodities as a result of the country’s heavy dependence on PMS. Nigerians have continued to struggle to afford basic amenities as a result of the continued rise in prices of food items occasioned by the removal of fuel subsidy.

However, the President Bola Tinubu government last Wednesday announced plans to distribute N8,000 palliative to 12 million disadvantaged households across the country in an effort to lessen the impact of the subsidy removal.

The N8,000 monthly palliative will be distributed to 12 million needy households over the course of six months, the federal government announced.

Nigerians have continued to raise questions as to how the Mr. Tinubu-led government intends to start the distribution of palliatives.