Nigeria’s inflation surges to 33.20% YoY in March

Nigeria’s headline inflation surged to 33.20 per cent in March, up from February 2024’s 31.70 per cent, marking a 1.50 per cent increase, according to the country’s National Bureau of Statistics data on Monday.

Year-on-year (YoY), March 2024’s 11.16 per cent jump over March 2023’s 22.04 per cent indicates a significant rise.

Additionally, March 2024’s month-on-month inflation hit 3.02 per cent, slightly lower than February 2024’s 3.12 per cent. This suggests a slower price increase in March compared to February.