Nigeria’s inflation rate increased for the fourth consecutive month to 22.22% in April from the 22.04% recorded in March.

This is according to the Commodity Price Index report published on Monday by the National Bureau of Statistics.

The April 2023 inflation rate showed an increase of 0.18 percentage points when compared to March 2023 headline inflation rate.

Similarly, on a year-on-year basis, the headline inflation rate was 5.40 percentage points higher compared to the rate recorded in April 2022, which was 16.82%.

Details later.

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