Despite say Naira don gain value against dollar recently, Nigeria inflation rate don rise reach 33.20% for March 2024, wey be significant increase from di February 2024 figure of 31.70%.

Di latest data come out from di National Bureau of Statistics (NBS) inside dia Consumer Price Index (CPI) report wey dem unveil for Monday.

Dis alarming increase for inflation dey happen afta di Central Bank of Nigeria (CBN) take decision to increase di country interest rate from 22.75% reach 24.75%, one move wey dem dey aim to use reduce di inflation pressure and stabilize di economy.

Di NBS report happen for di same time wen Naira dey do well against dollar, as e don gain about 40% appreciation, wey make am rise from around N1,900/$ reach N1,100/$1.

Despite di hope say di strong Naira go make prices for essential goods and services reduce, di reality dey different. Cost of living still dey high, and Nigerians never really see significant reduction for di prices of food and other basic things.