Nigeria’s headline inflation has risen to 12.34 percent year-on-year, according to the Nigeria Bureau of statistics (NBS).
In its report for April released today, the NBS said that the Consumer Price Index (CPI) which measures inflation rate rose by 1.02 percent compared to the rate for the month of March.
The increase in inflation was driven largely by the Food Sub-Index which rose by 15.03 percent year-on-year and 1.18 percent month-on-month.
Core sub-Index which include transportation and pharmaceuticals also rose by 9.98 percent year-on-year and 0.933 percent month-on-month.
There was also sharp rises in the Urban Index in April at 13.01 percent year-on-year and 1.06 percent month-on-month. The Rural Index rose by 11.01 percent year-on-year and 0.98 percent month-on-month.
According to the NBS report, Bauchi had the highest rises with 14.44 percent among the states, with Sokoto and Plateau following at 13.99 percent and 13.68 percent respectively.
Inflation was lowest in Kwara at 8.98 percent while Abuja and Edo followed at 10.81 percent and 10.87 percent respectively.
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