The National Bureau of Statistics has revealed that Nigeria’s inflation rate rose to 18.17 percent in March amid increase in food prices.
The report released on Thursday by the Bureau for the month of March shows that amid accelerating increase in food prices, the Consumer Price Index, which measures inflation, increased by 0.82%.
High food prices had driven Nigeria’s inflation to 17.33% in February 2021 amidst monetary intervention.
However, food inflation also increased by 1.16 percent on a year-on-year basis from 21.79 percent in February to 22.95 in March.
On month-on-month basis, the Headline index increased by 1.56 percent in March 2021.
This is 0.02 percentage points higher than the rate recorded in February 2021 (1.54 percent).
The NBS report also shows prices of food items raised the most in Rivers, Niger and Gombe States.
