Nigeria's Inflation Rate Hits 15.92% – NBS

Nigeria’s Inflation Rate Hits 15.92% – NBS.

In March 2022, the Consumer Price Index (CPI), which monitors inflation, grew by 15.92% year on year.

This was revealed by the National Bureau of Statistics (NBS) on Friday in its newest report, titled ‘Consumer Price Index March 2022.’

It added that the reported percentage was 2.25 percentage points lower than the 18.17 percent figure recorded in March of previous year.

This indicates that, as compared to the same month the previous year, the headline inflation rate reduced in March 2022, but gains were reported in all Classification of Individual Consumption by Purpose (COICOP) categories that provided the Headline index.

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