Nigeria’s inflation soars to 22.04% in March (pmnewsnigeria.com)

Nigerias inflation for the month of March 2023, soared to 22.04 per cent, according to data released by the National Bureau of Statistics (NBS) on Saturday.

According to the NBS, the headline inflation rate rose to 22.04 compared to February 2023 headline inflation rate which was 21.91.

Looking at the trend, the March 2023 inflation rate showed an increase of 0.13 points when compared to February 2023 headline inflation rate.

On a yearonyear basis, the headline inflation rate was 6.13 points higher compared to the rate recorded in March 2022 which was 15.92.

This shows that the headline inflation rate (yearonyear basis) increased in March 2023 when compared to the same month in the preceding year (i.e., March 2022), the NBS said.

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