Abuja, April 15, 2023 – Nigeria’s inflation rate rose to 22.04 per cent in March 2023, the National Bureau of Statistics (NBS) has reported.
The figure is higher than the 21.91 per cent recorded in February 2023.
The latest NBS report issued on Saturday said that food inflation rose to 24.45 per cent in March 2023 from 24.35 per cent in February 2023, while urban inflation rose to 23.07 per cent and rural inflation was 21.09 per cent.
The Bureau disclosed that the increase in the food index was driven by increases in prices of oil and fat, bread and cereals, potatoes, yam and other tubers, fish, fruits, meat, vegetables and spirits. (GBN)
