Breaking: Nigeria’s Inflation Rises to 22.22%

The Consumer Price Index (CPI), which measures the rate of change in goods and commodities, rose to 22.22 per cent in April compared to 22.04 per cent in the preceding month, the National Bureau of Statistics (NBS) stated Monday.

The food inflation increased to 24.61 per cent year-on-year, which was 6.24 per cent higher compared to 18.37 per cent in April 2022.

The “All items less farm produce” or core inflation, which excludes the prices of volatile agricultural produce increased to 20.14 per cent year-on-year in April, up by 5.96 per cent when compared to the 14.18 per cent recorded in April 2022.

Details shortly.