Inflation rises to 12.34 per cent…NBS

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By Agency Report

Inflation increased by 12.34 per cent in April 2020, Nigeria Bureau of Statistics (NBS) has said.

Report on the Bureau’s website said  “Consumer Price Index, the consumer price index, (CPI) which measures inflation, increased by 12.34 percent (year-on-year) in April 2020. This is 0.08 percent points higher than the rate recorded in March 2020 (12.26 percent).

“On month-on-month basis, the Headline index increased by 1.02 percent in April 2020. This is 0.18 percent rate higher than the rate recorded in March 2020 (0.84 percent).”

Continuing, the report noted that increases were recorded in all COICOP divisions that yielded the Headline index.

“On a month-on-month basis, the urban index rose by 1.06 percent in April 2020, up by 0.18 from 0.88 percent recorded in March 2020, while the rural index also rose by 0.98 percent in April 2020, up by 0.18 from the rate recorded in March 2020 (0.80) percent.”

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