According to data released by the Nigeria Bureau of Statistics (NBS), the headline inflation rate climbed to 33.69% in April 2024, up from 33.20% in March 2024, representing a notable increase of 0.49 percentage points.
A comparison of year-on-year figures reveals a substantial rise in the inflation rate. In April 2023, the rate stood at 22.22%, indicating a surge of 11.47 percentage points over the past year.
This highlights a significant escalation in headline inflation over the twelve-month period.
Furthermore, analysing month-to-month data, April 2024 saw an inflation rate of 2.29%, marking a decrease from the 3.02% recorded in March 2024, signifying a slower pace of price increases in April compared to the preceding month.
Chioma Kalu
Follow us on:
President Bola Tinubu on Friday declared that his purpose for seeking the nation's number one…
Kano state government is partnering Tony Blair Institute for Global Change to attract $23.5 million…
Nigeria's federal government has said it is currently reviewing the nation’s legal frameworks, among other…
The Nnamdi Azikiwe International Airport, Abuja, and the Port Harcourt International Airport have been recognised…
https://cdn.veri.app/13646108-d5ec-478b-a54c-b01f60dbca29.mp4 President Bola Ahmed Tinubu On Thursday directed Vice President, Kashim Shettima to lead Nigeria’s…
The United Sates (US) Vice President Kamala Harris has expressed her willingness to use her…