Nigeria’s annual inflation rate increased to 22.22% in April from 22.04% the previous month. This is according to data released on Monday by the National Bureau of Statistics (NBS)
In comparison to the headline inflation rate in March 2023, the statistics office reported that the inflation rate for April 2023 increased by 0.18 percentage points.
The headline inflation rate was greater on an annual basis, according to the NBS, than the 16.82% rate that was registered in April 2022.
This demonstrates that the headline inflation rate rose on an annual basis in April 2023 as compared to the same month the year before (April 2022), it stated.
In April 2023, food inflation increased from 24.46 percent in March to 24.61%.
