Nigeria’s Inflation Rate Hits 22.22% For April

Nigeria’s inflation rate has increased to 22.22 per cent in April as against 22.04 per cent in March.

This was disclosed by the Community Price Index report published by the National Bureau of Statistics (NBS) on Monday.

This is an increase of 0.18 percentage points for the April 2023 inflation rate when compared to March 2023 headline inflation rate.

Reports say 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 per cent.

This is a developing story. More details will be added shortly.

In other news, Kanyi Daily reported that former Kaduna Senator, Shehu Sani has congratulated Nigerian chef, Hilda Effiong Bassey, better known as Hilda Baci for breaking the Guinness World Record for the longest cooking time by an individual.