National

Nigeria: Inflation Rate Hits New Record Of 22%

VOICE AIR MEDIA News Update

THE Bureau disclosed that the increase in the food index was driven by increases in prices of oil and fat, bread and cereals, potatoes, yam and other tubers, fish, fruits, meat, vegetables, and spirits.

Nigeria’s inflation rate has hit an all time high.

According to the National Bureau of Statistics, the inflation rate climbed to 22.04% in March 2023.

The per cent represents a 13.4 basis points increase compared to 21.91% recorded in the previous month.

It noted that food inflation was 24.45% in March 2023 from 24.35% in February 2023, while urban inflation was 23.07% and rural inflation was 21.09%.

The Bureau disclosed that the increase in the food index was driven by increases in prices of oil and fat, bread and cereals, potatoes, yam and other tubers, fish, fruits, meat, vegetables, and spirits.

VAM News

Recent Posts

August 8: Adeniyi Vows To Rescue Osun From Mismanagement, To Adopt People-Centred Governance

News Update THE governorship candidate of the Social Democratic Party (SDP) for the 2026 Osun…

8 hours ago

Kwankwaso changes course, backs Governor Yusuf’s defection to APC

News Update Mr Kwankwaso in short video clip posted by his media aide, Saifullahi Hassan,…

9 hours ago

Nigeria ranks 89 in 2026 Passport Index

...passport holders can visit 44 nations without a visa. Nigeria has scaled several points to…

12 hours ago

US delivers military supplies to Nigeria

News Update THE United States has delivered military supplies to Nigerian security agencies in Abuja…

16 hours ago

Singer Portable Remanded In Custody For ‘Assault, Car Theft’

Controversial singer, Habeed Okikiola, popularly known as Portable, was on Monday arraigned at the Federal…

16 hours ago

Airport police nab suspect after deadly Ikeja crash

The Airport Police Command has arrested the driver responsible for a fatal hit-and-run accident that…

17 hours ago