The National Bureau of Statistics (NBS) on Monday said the April 2024 headline inflation rose to an all-time high of 33.69 per cent.
This shows that inflation rose marginally by 0.49 per cent on a month-on-month basis against the March 2024 inflation which surged by 1.5 per cent to a record 33.20 per cent.
On a year-on-year basis, the Consumer Price Index (CPI) report recorded a surge of 11.47 per cent from the 22.22 per cent recorded in April 2023.
The statistics hub attributed the increase to the high cost of food and non-alcoholic beverages.
During the review period, the NBS said on a divisional level, food and non-alcoholic beverages contributed 17.45 per cent to inflation, housing, water, electricity, gas and other fuel contributed 5.64per cent while clothing and footwear accounted for 2.58 per cent, among others.
Further breakdown of the report showed the food inflation rate in April 2024 was 40.53 per cent compared to 40.4 per cent recorded in March 2024.
It further surged by 15.92 per cent on a year-on-year basis, against the 24.61 per cent rate of April 2023.
The NBS attributed the rise in food inflation to the increases in prices of bread and cereals, oil and fat, potatoes, yam and other tubers, fish, fruit, meat, vegetables and milk, cheese and eggs.
The case was not different in the urban areas where the inflation rate rose to 36.00 per cent, which was 12.61 per cent points higher compared to the 23.39 per cent recorded in April 2023.
The rural inflation rate in April 2024 was 31.64 per cent yearly. This was 10.50 per cent higher than the 21.14 per cent recorded in the preceding year.