Nigeria, June 15 -- Nigeria's inflation rate fell for the second consecutive month in May to 17.93 per cent from 18.12 per cent recorded a month earlier.

The National Bureau of Statistics said Tuesday that the prices of goods and services, measured by the Consumer Price Index (CPI) increased by 17.93 per cent in May 2021 when compared to May 2020.

Though the scale of increase remained high, it was 0.05 per cent lower than what obtained a month earlier, NBS said.

There was no respite in terms of increase in food prices as food inflation rose in May to 22.28 per cent, compared with 22.72 per cent in April 2021.

Inflationary pressures have never abated since the Buhari administration announced a shutdown of Nigeria's porous land borders ...