Breaking: Inflation Increases to 33.20%

James Emejo in Abuja

The Consumer Price Index (CPI) which measures the rate of change in prices of goods and commodities further increased to 33.20 per cent in March Compared to 31.70 per cent in February, the National of Statistics (NBS) said Monday.
Year-on-year, headline inflation rate was 11.16 per cent higher compared to 22.04 per cent recorded in March 2023.
According to the CPI report for the period under review, food inflation rose to 40.01 per cent year-on-year in March, 15.56 per cent higher than 24.45 per cent recorded in March 2023.
Core inflation, including energy prices increased to 25.90 per cent year on year in March, an increase of 6.26 per cent compared to 19.63 per cent recorded in March 2023.

Details later….