The National Bureau of Statistics on Monday confirmed that inflation has risen to 22.22% in April reading from the March 22.04% in March.
The Bureau confirmed this via its website saying that food inflation which was 24.61% in April 2023 from 24.45% in March 2023.
It said, “Urban Inflation was 23.39%, rural Inflation was 21.14%.”
The Bureau went further, “Similarly, on a year-on-year basis, the headline inflation rate was 5.40% points higher compared to the rate recorded in April 2022, which was 16.82%. “This shows that the headline inflation rate on a year-on-year basis increased in April 2023 when compared to the same month in the preceding year (i.e., April 2022).
“Likewise, on a month-on-month basis, the All-Items Index in April 2023 was 1.91%, which was 0.05% points higher than the rate recorded in March 2023 (1.86%). This means that in April 2023, on average, the general price level was 0.05% higher relative to March 2023. The percentage change in the average CPI for the twelve months ending April 2023 over the average of the CPI for the previous twelve months was 20.82%, showing a 4.37% increase compared to the 16.45% recorded in April 2022.”