BREAKING: Inflation rate rises to 22.22%
By: Abara Blessing Oluchi
Mon, 15 May 2023 || Nigeria,
Nigeria’s inflation rate has increased, new reports have shown.
The nation's inflation rates 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 Commodity Price Index report published on Monday by the National Bureau of Statistics.
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.