Nigeria’s inflation rate has risen for the seventh consecutive month to 12.26% in March, from 12.2% earlier recorded in February, the highest in 23 months.
This is contained in just released reports from the National Bureau of Statistics in its Consumer Price Index Report for March 2020.
This is 0.06% points higher than the 12.20% rate recorded in February.
The corresponding twelve-month year-on-year average percentage change for the urban index was 12.15% in March 2020,this is higher than 12.03% reported in February 2020, while the corresponding rural inflation rate in March 2020 was 11.14 per cent compared to 11.09 per cent recorded in February 2020.
The lockdown in Abuja, Lagos and Ogun States and various major disruptions in normal economic activity in several States since will also impact on this figures moving on.
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