…As food inflation soars
By Elizabeth Adegbesan
Headline inflation rose to 18 percent in March representing 0.82 percent points year-on-year (YoY) rise when compared to 17 percent recorded in February.
Similarly, food inflation rose YoY by 5.0 percent points to 23 percent in March from 22 percent in February.
The National Bureau of Statistics, NBS, disclosed this today in its consumer price index, (CPI), Report for March 2021.
The bureau stated: “The consumer price index, (CPI) which measures inflation increased by 18.17 percent (year-on-year) in March 2021. This is 0.82 percent points higher than the rate recorded in February 2021 (17.33 percent).Increases were recorded in all COICOP divisions that yielded the Headline index.
“On month-on-month basis, the Headline index increased by 1.56 percent in March 2021. This is 0.02 percentage points higher than the rate recorded in February 2021 (1.54 percent).
“The urban inflation rate increased by 18.76 percent…
Source: Vanguard Newspaper