Nigeria’s Inflation Rate Rises To 22.04% — Third Consecutive Increase In 2023

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The consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 22.04 percent in March 2023, up from 21.91 percent in the previous month.

Nigeria’s Inflation Rate Rises To 22.04% — Third Consecutive Increase In 2023

The inflation rate data is contained in the latest CPI report released on Saturday by the National Bureau of Statistics (NBS).

The March increase comes across as the third consecutive surge in the country’s inflation figure since the year began.