BREAKING: Higher food prices push Nigeria’s inflation to 22.22% | TheCable
The inflation rate data is contained in the latest CPI report released on Monday by the National Bureau of Statistics .
“Looking at the movement, the April 2023 inflation rate showed an increase of 0.18% points when compared to March 2023 headline inflation rate,” the report reads.“Similarly, on a year-on-year basis, the headline inflation rate was 5.40% points higher com- pared to the rate recorded in April 2022, which was 16.82%.
NBS said items such as food and non-alcoholic beverages; housing, water, electricity, gas & other fuel contributed largely on the divisional level to the increase in the headline index.“The contributions of items on the divisional level to the increase in the headline index are presented below: food and non-alcoholic beverages ; housing, water, electricity, gas, and other fuel ,” the agency said.
“On a month-on-month basis, the food inflation rate in April 2023 was 2.13%, this was 0.06% points higher compared to the rate recorded in March 2023 ,” the report further reads.
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