Abuja, April 15, 2024 – Nigeria’s inflation rate rose to 33.2 per cent in March from 31.70 per cent in February 2024, the National Burau of Statistics (NBS) has reported.
The NBS reported this in its Consumer Price Index (CPI) and Inflation Report March 2024.
“In March 2024, the headline inflation rate increased to 33.20% relative to the February 2024 headline inflation rate which was 31.70%.
“Looking at the movement, the March 2024 headline inflation rate showed an increase of 1.50% points when compared to the February 2024 headline inflation rate.”
The document said on a year-on-year basis, the headline inflation rate was 11.16% points higher compared to the rate recorded in March 2023, which was 22.04%.
This shows that the headline inflation rate (year-on-year basis) increased in March 2024 when compared to the same month in the preceding year (i.e., March 2023). (GBN)
