Nigeria’s Inflation Rate Surges to 18.17% in March 2021

Market in Lagos

The inflation rate in Nigeria has increased to 18.17% in the month of March.

This is from 17.33% recorded in February 2021.

The latest figures were contained in the Consumer Price Index report, recently released by the National Bureau of Statistics (NBS).

Food inflation spikes to 22.95% from 21.79% recorded in the previous month, while core inflation, which excludes the prices of volatile agricultural produce rose to 12.67% from 12.38% recorded in February 2021.

More details shortly…