Nigeria’s inflation rate has risen to 22.04 per cent in the month of March from 21.91 per cent in February 2023, the National Bureau of Statistics (NBS) said, yesterday, disclosing it is the third consecutive rise in inflation this year.
The inflation rate data report released NBS showed an increase of 0.13 per cent points when compared to February 2023 headline inflation rate.
“However, on a month-on-month basis, the all-items index in March 2023 was 1.86 per cent, which was 0.15 per cent points higher than the rate recorded in February 2023 ,” NBS said. “Clothing and footwear ; transport ; furnishings, household equipment and maintenance ; education ; health ; miscellaneous goods and services ; restaurant and hotels ; alcoholic beverage, tobacco and kola ; recreation and culture and communication .”
“In March 2023, food inflation on a year-on-year basis was highest in Kwara , Ondo , and Lagos ,”the report further reads.“On a month-on-month basis, March 2023 food inflation was highest in Bayelsa , Rivers , and Ondo , while Bauchi , Zamfara , and Ogun recorded the slowest rise in food inflation.”
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