The Nigerian Bureau of Statistics has revealed that Nigeria’s April inflation figure increased to 22.22 per cent from 22.04 per cent last month.

The National Bureau of Statistics Consumer Price Index released the report on Monday.

“Looking at the movement, the April 2023 inflation rate showed an increase of 0.18% points when compared to March 2023 headline inflation rate.

“Similarly, on a year-on-year basis, the headline inflation rate was 5.40% points higher com- pared 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),” the report reads.

NBS said items such as food and non-alcoholic beverages; housing, water, electricity, gas & other fuel contributed largely on the divisional level to the increase in the headline index.