Nigeria’s Inflation Hits 33.69% for Fourth Time in 2024.
Nigeria’s inflation rate has surged to 33.69% for the fourth time in 2024, reaching a new 28-year high in April. This increase was reported by the National Bureau of Statistics (NBS) in its Consumer Price Index (CPI) report. The April 2024 headline inflation rate rose by 0.49% points compared to March 2024. On a year-on-year basis, the April 2024 inflation rate was 11.47% points higher than in April 2023. However, on a month-on-month basis, the inflation rate in April 2024 was 2.29%, which was 0.73% lower than in March 2024.
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