The National Bureau of Statistics says that Nigeria’s inflation rate hit 22.04% in March 2023.
The NBS said the rate was 21.91% in the month of February.
It also noted that food inflation was 24.45% in March 2023 from 24.35% in February 2023, while urban inflation was 23.07% and rural inflation was 21.09%.
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The Bureau said that the increase in the food index was caused by increases in prices of oil and fat, bread and cereals, potatoes, yam and other tubers, fish, fruits, meat, vegetables, and spirits.
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