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Nigeria’s Inflation Rate Hits 33.69% in April - NBS

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Nigeria’s Inflation Rate Hits 33.69% in April – NBS

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Nigeria’s Inflation Rate Hits 33.69% In April — NBS

By Aisha Musa

Nigeria’s headline inflation rate increased from 33.20 per cent recorded in March, to 33.69 per cent in April 2024.

This was disclosed on Wednesday, by the National Bureau of Statistics, NBS.

The data represents a month-over-month increase of 0.49 per cent points in the headline inflation rate, according to the Consumer Price Index report, the NBS stated.

Comparing year-on-year data, the inflation rate in April 2024 was 11.47 percentage points higher than in April 2023, where it stood at 22.22 per cent. This indicates that the headline inflation rate has risen significantly over the past year.

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