{"id":671,"date":"2024-05-15T13:13:34","date_gmt":"2024-05-15T13:13:34","guid":{"rendered":"https:\/\/beadysword.com.ng\/blog\/?p=671"},"modified":"2024-05-15T13:13:38","modified_gmt":"2024-05-15T13:13:38","slug":"nigerias-inflation-rate-hits-33-69-amid-economic-hardship","status":"publish","type":"post","link":"https:\/\/beadysword.com.ng\/blog\/2024\/05\/15\/nigerias-inflation-rate-hits-33-69-amid-economic-hardship\/","title":{"rendered":"Nigeria\u2019s Inflation Rate Hits 33.69% Amid Economic Hardship"},"content":{"rendered":"
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According to the latest consumer price index and inflation report released by the National Bureau of Statistics (NBS), Nigeria has again experienced a surge in inflation, rising to 33.69 per cent in April from 33.20 per cent in March.<\/span><\/h3>\n

T<\/b>his increase reflects the country\u2019s ongoing economic hardship.<\/span><\/p>\n

It is crucial to note that inflation has been persistently on the rise since the beginning of President Bola Ahmed Tinubu\u2019s administration in May last year.<\/span><\/p>\n

In May 2023, inflation stood at 22.41 per cent, and it has steadily increased to 33.69 per cent in April this year.<\/span><\/p>\n

The trend continued, with inflation rates of 29.9 per cent in January 2024, 31.70 per cent in February, and 33.20 per cent in March.<\/span><\/p>\n

According to recent statements by the governor of the Central Bank of Nigeria (CBN), \u00a0Olayemi cardoso the country\u2019s inflation rate increased by 0.49 per cent month over month.<\/span><\/p>\n

Cardoso emphasized that the apex bank\u2019s Monetary Policy Committee (MPC) is committed to taking necessary measures to reduce rising inflation.<\/span><\/p>\n

To achieve this, the MPC will persistently raise interest rates to 24.75 per cent in March.<\/span><\/p>\n

The MPC meeting is scheduled for May 20 and 21, 2024.<\/span><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

According to the latest consumer price index and inflation report released by the National Bureau of Statistics (NBS), Nigeria has again experienced a surge in inflation, rising to 33.69 per cent in April from...<\/p>\n","protected":false},"author":2,"featured_media":672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t