Hopes for a deceleration in the country’s inflation rate were dashed on Monday as the Consumer Price Index which was released by the National Bureau of Statistics revealed that Nigeria’s annual inflation rate rose to 22.22 per cent in April 2023.
The data by NBS shows that inflation under the last month of the administration of President Muhammadu Buhari rose by 0.18 per cent compared to the 22.04 per cent recorded in March 2023 and it is the fourth consecutive month surge since the beginning of the year.
