According to the National Bureau of Statistics (NBS) Consumer Price Index and Inflation Report, Nigeria’s headline inflation rate climbed to 22.04 percent on a year-on-year basis in March 2023.
This is according to National Bureau of Statistics NBS Consumer Price Index and Inflation Report for March 2023.
The report was released in Abuja on Monday, according to the News Agency of Nigeria.
According to the report, the figure is 0.13 per cent points higher compared to the 21.91 per cent recorded in February 2023.
It said on a year-on-year basis, the headline inflation rate in March 2023 was 6.13 per cent higher than the rate recorded in March 2022 at 15.92 per cent.
“This shows that the headline inflation rate (year-on-year basis) increased in March 2023 when compared to the same period in March 2022.”