Nigeria’s inflation rate hits 22% – NBS

Marcus Amudipe
Marcus Amudipe


The National Bureau of Statistics on Saturday revealed that the nation’s inflation rate rose to 22.04% in March 2023.

According to The PUNCH, the percentage is 13.4 percentage points higher than the 21.91% seen in the prior month.

It was noticed that food prices increased by 24.45% in March 2023 compared to 24.35% in February 2023, while inflation in urban areas increased by 23.07% and in rural areas by 21.09%.

The Bureau revealed that price rises in oil and fat, bread and cereals, potatoes, yams, and other tubers, fish, fruits, meat, vegetables, and spirits were to blame for the rise in the food index.

More details later

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