Inflation
Rises To 33.69% In April.
National Bureau of Statistics on Wednesday, said
inflation rate increased to 33.69% in April 2024 from the 33.20% of March 2024.
This was contained in its document titled:” Consumer
Price Index
April 2024,” which noted that the rate of increase showed
0.49% points in comparison to that of the previous month.
The data also noted that on a year-on-year basis, the
headline inflation rate was 11.47% points higher compared to the rate recorded
in April 2023, which was 22.22%.
The report said this shows that the headline inflation
rate (year-on-year basis) increased in the month of April 2024 when compared to
the same month in the preceding year (i.e., April 2023).
According to NBS, on a month-on-month basis, the headline
inflation rate in April 2024 was 2.29%, which was 0.73% lower than the rate
recorded in March 2024 (3.02%).
It said this means that in the month of April 2024, the
rate of increase in the average price level is less than the rate of increase
in the average price level in March 2024.
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