Nigeria’s inflation rises by 0’08% to 12.34% in April

The National Bureau of Statistics (NBS) has revealed that Nigeria’s Consumer Price Index (CPI) which measures inflation further rose by 0.08 per cent  to 12.34 per cent (year-on-year) in April from  12.26 per cent in the preceding month.

The composite food index rose to 15.03 per cent compared to 14.98 per cent in March.

According to the CPI figures for April, which was released Thursday, the 0.08 per cent uptick in the headline index in April followed increases in all the categories that determine inflation, including the food index and core inflation.

The All items less farm produce or core inflation, which excludes the prices of volatile agricultural produce, also rose to 9.98 per cent during the review period, up by 0.25 per cent when compared with 9.73 per cent recorded in March.