cbn statement, 2023-05-24
Staff forecasts showed that headline inflation would marginally increase from 22.22% in April 2023 to 22.41% in May 2023 due to the expected rise in the cost of energy, particularly Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO), anticipated increase in consumer demand as eid-el-fitr approaches and exchange rate pass-through.
Sentiment: neutral
Topic: mp_inflation