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).

Cost of Preparing Jollof Rice Rises by Over 315% Due to Inflation

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.

Food Inflation Surges in Kogi 48.46%, Kwara 46.18%, Akwa Ibom 45.18% – NBS

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.