Nigeria’s inflation rate rises to 33.69 per cent

Nigeria’s inflation has increased to 33.69 per cent in April from 33.20 per cent in March.

This was disclosed by the National Bureau of Statistics, NBS, in its latest consumer price index and inflation report released on Wednesday.

This shows that Nigeria’s inflation continued to jump since the commencement of President Bola Ahmed Tinubu’s administration in May last year.

Nigeria’s inflation rose in April to 33.69 per cent from 22.41 per cent in May last year

In January 2024, headline inflation was 29.9 per cent, 31.70 per cent in February, and 33.20 per cent in March.

ALSO READ : Leadership comes with challenges, Ortom tells Alia in birthday message

“Looking at the movement, the April 2024 headline inflation rate showed an increase of 0.49% points when compared to the March 2024 headline Nigeria’s inflation rate,” the NBS said.

“On a year-on-year basis, the headline Nigeria’s inflation rate was 11.47% points higher compared to the rate recorded in April 2023, which was 22.22%.”