Nigeria’s inflation rate rises to 18.17% in March 2021, highest in 49 months

Nigeria’s inflation rate rose to 18.17% in March 2021, from 17.33% recorded in the previous month.

This represents the highest inflation rate recorded in four years(49 months)

This is according to the latest inflation report published by the National Bureau of Statistics (NBS).

The last time Nigeria recorded an inflation rate this high was in Janaury 2017.

Read also: Nigeria’s inflation rate rises to 17.33% in February 2021, highest in four years

On a month-on-month basis, the inflation increased to 1.56 percent from 1.54% in February 2021.

Food inflation also increased to 22.95 percent in March 2021 from 21.79 percent in Feb 2021, while core Inflation stands at 12.67 percent in Mar 2021 from 12.38 percent in Feb 2021

Urban area inflation rose to 18.76 percent from 17.96 percent and Rural inflation 17.60% from 16.77% percent

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