According to the bureau, food prices soared by 2.72 per cent, a 0.30 per cent increase from the rate recorded in November.
The report is the last major data released by the Federal Reserve official before its September 19-20 policy meeting.
“The month-on-month inflation rate in June 2023 was 74.5%, gaining 58.8 percentage points on the May 2023 rate of 15.7%.”
The NBS statistics also showed that the rate of food inflation in March increased to 2.07 per cent, 0.16 per cent more than the 1.90 per cent reported in February.
In the same line, food inflation increased from 24.32 per cent in January to 24.35 percent in the reviewed month.
The allowance bump will aid recipients the rising costs on goods and services driven by rising inflation.
OPEC said the figure showed an increase of 5,000 barrels per day when compared to the 1.233 million bpd produced averagely in the month of May 2022.
The report said that the Consumer Price Index (CPI) which measures inflation increased to 15.92 per cent year-on-year.
Urban inflation rates climbed by 17.92 percent in February 2021 from 17.03 percent recorded in January 2021.
The rise in the food index resulted from increased prices for bread and cereals, tubers, meat, fruits, vegetables, fish, oils, and fats.
