Nigeria’s headline inflation rose to 24.23 per cent last month, up from 23.18 per cent recorded in February.

According to the latest data released by the National Bureau of Statistics, the figure represents a 1.05 percentage point increase.

The NBS noted that the major drivers of the inflation rate were food and non-alcoholic beverages, which contributed 9.28 percentage points; followed by restaurants and accommodation services at 2.99 per cent, transport at 2.47 per cent, and housing, water, electricity, gas, and other fuels at 1.95 per cent.

Similarly, Food inflation stood at 21.79 per cent last month, up from 20.01 per cent in February.

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