In April 2024, the headline inflation rate in Nigeria rose to 33.69%, Techeconomy can report.
The inflation is up from 33.20% in March 2024, marking an increase of 0.49% points according to the Nigeria Bureau of Statistics (NBS).
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Comparing year-on-year data, the inflation rate in April 2024 was 11.47% points higher than in April 2023, which stood at 22.22%.
This indicates that the headline inflation rate has risen significantly over the past year.
On a month-to-month basis, the inflation rate for April 2024 was 2.29%, which is 0.73% lower than the 3.02% recorded in March 2024.
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This suggests that the rate at which prices increased in April 2024 was slower than the rate in March 2024, despite CBN‘s promise to tackle the surge.
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