The consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 22.04 percent in March 2023, up from 21.91 percent in the previous month.
The latest CPI report released on Saturday by the National Bureau of Statistics (NBS) contains the inflation rate data.
The March increase comes across as the third consecutive surge in the country’s inflation figure since the year began.
The CPI report from NBS reads, “In March 2023, the headline inflation rate rose to 22.04% compared to February 2023 headline inflation rate which was 21.91%.
“The contributions of items on the divisional level to the increase in the headline index are food & non-alcoholic beverages (11.42%); housing, water, electricity, gas & other fuel (3.69%); clothing & footwear (1.69%); transport (1.43%); furnishings, household equipment & maintenance (1.11%); education (0.87%); health (0.66%); miscellaneous goods & services (0.37%); restaurant & hotels (0.27%); alcoholic beverage, tobacco & kola (0.24%); recreation & culture (0.15%) and communication (0.15%).”
