Nigeria’s inflation rises from 33.20% to 33.69% in April

Nigeria’s headline inflation rate increased from 33.20 per cent recorded in March to 33.69 per cent in April 2024.

In a new report released by the National Bureau of Statistics (NBS), it was noted that the data represents a month-over-month increase of 0.49 per cent points in the headline inflation rate. 

Comparing year-on-year data, the inflation rate in April 2024 was 11.47 percentage points higher than in April 2023, where it stood at 22.22 per cent. This indicates that the headline inflation rate has risen significantly over the past year.