For the fourth consecutive month, Nigeria’s inflation rate rose to 22.22 percent in April.
Compared to March, this is greater than the 22.04 percent reported.
This is in accordance with the National Bureau of Statistics’ (NBS) Commodity Price Index report, which was released on Monday.
The April 2023 inflation rate showed an increase of 0.18 percentage points when compared to March 2023 headline inflation rate.
Similarly, on a year-on-year basis, the headline inflation rate was 5.40 percentage points higher compared to the rate recorded in April 2022, which was 16.82 per cent.