Nigeria’s inflation rate hits 33.2% in March.

Nigeria’s headline inflation rate reached 33.2 percent in March 2024. This represents a 1.5 percentage points year-on-year (YoY) increase from 31.7 percent recorded in February 2024.
The National Bureau of Statistics, NBS, disclosed this today, Monday, in its Consumer Price Indices report for March 2024.
The bureau also said that food inflation increased YoY by 2.09 percentage points to 40.01 percent in March from 37.92 percent in February.
According to NBS “In March 2024, the headline inflation rate increased to 33.2 percent relative to the February 2024 headline inflation rate which was 31.7 percent.
Looking at the movement, the March 2024 headline inflation rate showed an increase of 1.5 percentage points when compared to the February 2024 headline inflation rate.