According to data released by the National Bureau of Statistics (NBS) on Monday, inflation rate in Nigeria increased to 33.20 percent, compared to 31.70 percent at February 2024.
The analysis showed that food inflation skyrocketed to 40.01 percent in March 2024.
On a year-on-year basis, the headline inflation rate was 11.16 percentage points higher in March 2024 than the 22.04 percent recorded in March 2023.
The headline inflation rate in March 2024 was 3.02 percent, which was 0.10 percent lower than the 3.12 percent recorded in February 2024, according to the month-on-month basis analysis.
More to come as stories unfold…