Nigeria’s inflation rate increased for the fourth consecutive month to 22.22 per cent in April from the 22.04 per cent recorded in March.
This is according to the National Bureau of Statistics’ report on the Commodity Price Index, which was released on Monday.
When compared to the headline inflation rate from March 2023, the inflation rate for April 2023 increased by 0.18 percentage points.
Similar to this, the headline inflation rate was 5.40 percentage points higher year over year than the 16.82 percent rate registered in April 2022.
Meanwhile, Food inflation rose to 24.61 per cent in April 2023 from 24.46 in March.
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