Inflation in Nigeria has skyrocket to a staggering 18.17% in the month of March.
Market in Lagos
The inflation rate in Nigeria has increased to 18.17% in the month of March.
This is from 17.33% recorded in February 2021.
The latest figures were contained in the Consumer Price Index report, recently released by the National Bureau of Statistics (NBS).
Food inflation spikes to 22.95% from 21.79% recorded in the previous month, while core inflation, which excludes the prices of volatile agricultural produce rose to 12.67% from 12.38% recorded in February 2021.
More details shortly…