Nigeria’s Inflation Rises to 33.69% in April

Nigeria’s headline inflation rate surged from 33.20 percent in March to 33.69 percent in April 2024, as the National Bureau of Statistics (NBS) reported on Wednesday. The data in the Consumer Price Index report reflects a month-on-month increase of 0.49 percentage points in the headline inflation rate.

Comparing year-on-year data, the inflation rate in April 2024 was notably higher, at 11.47 percentage points above the April 2023 rate of 22.22 percent. This indicates a substantial rise in the headline inflation rate over the past year.