National Bureau of Statistics (NBS) has announced that Nigeria’s inflation rate increased to 24.23 percent in March, up from 23.18 per cent in February.
This rise indicates a return to levels seen at the beginning of the year after the Consumer Price Index rebasing.
The upward trend in inflation suggests that the cost of living in Nigeria continues to rise, potentially affecting the purchasing power of citizens and the overall economy.
The NBS’s report highlights the ongoing challenges in managing inflation and stabilising the economy.
This development may have significant implications for economic policies and the livelihoods of Nigerians, particularly those in low-income brackets.
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