General News

BREAKING: Nigeria’s inflation rate increases to 33.69% for the fourth time in 2024

Nigeria’s inflation rate has increased again to 33.69% for the fourth time in 2024.

The headline inflation accelerated to a new 28-year high in April, hitting 33.69% year-on-year, up from 33.20% in March

This was according to the National Bureau of Statistics (NBS)’s Consumer Price Index (CPI) report released on Wednesday.

“In April 2024, the headline inflation rate increased to 33.69% relative to the March 2024 head line inflation rate which was 33.20%,” the Bureau said in its report.

See also  See List Of Countries With Highest Number Of Public Holidays

Looking at the movement, the April 2024 headline inflation rate showed an increase of 0.49% points when compared to the March 2024 headline inflation rate.

“On a year-on-year basis, the headline inflation rate was 11.47% points higher compared to the rate recorded in April 2023, which was 22.22%.

See also  DSTV Price Hike: Five Alternatives Nigerians Are Opting For

“This shows that the headline inflation rate (year-on-year basis) increased in the month of April 2024 when compared to the same month in the preceding year (i.e., April 2023).

“Furthermore, on a month-on-month basis, the headline inflation rate in April 2024 was 2.29%, which was 0.73% lower than the rate recorded in March 2024 (3.02%). This means that in the month of April 2024, the rate of increase in the average price level is less than the rate of in crease in the average price level in March 2024.”


A Professional blogger and Entertainer. An extremely calm-headed guy.... Maybe naughty. lol

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Back to top button

Adblock Detected

Kindly Use Chrome Or Phoenix Browser or turn off Ad blocker