The National Bureau of Statistics (NBS)’s Consumer Price Index (CPI) report released yesterday shows Nigeria’s inflation rate rose to 33.69% in April 2024 compared to March 2024 headline inflation rate which was 33.20%.

A cursory look at the movement, the April 2024 headline inflation rate showed an increase of 0.49% points when compared to the March 2024 headline inflation rate, and 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%.

With the fresh inflation report by the NBS, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), is expected to review the country’s interest rate from 24.75%.