Nigeria’s annual inflation rate rose to 22.22 per cent in April from 22.04 per cent in the previous month, the National Bureau of Statistics (NBS) said Monday.
The statistics office said the April 2023 inflation rate showed an increase of 0.18 per cent points when compared to March 2023 headline inflation rate.
According to the NBS, the headline inflation rate was higher year on year compared to the rate reported in April 2022, which was 16.82 percent.
Read Also: Police assault: Seun Kuti turns self in to the police
“This demonstrates that the headline inflation rate increased on a year-on-year basis in April 2023 when compared to the same month the previous year (i.e., April 2022),” it added.
Meanwhile, food inflation increased from 24.46 percent in March to 24.61 percent in April 2023.
