Inflation Rates reaches all time High

Inflation rates are rising with rate of 29.2 percent.

According to the Federal Bureau of Statistics, the rate of inflation was recorded at 27.6 percent in January 2023, which was 12.96 percent in January 2022.

Inflation rate was 31.5 percent in February 2023, which was 12.2 percent in February 2022, and 35.4 percent in March 2023, which was 12.7 percent in March 2022.

The rate of inflation in April 2023 was 36.4%, which was 13.4% in April 2022, the rate was 38% in May 2023, 13.8% in May 2022.

Inflation was 29.4% in June 2023, 21.3% in June 2022, 28.3% in July 2023, 24% in July 2022. It was 9 percent.

Read More: Inflation Increases by 2.7% in November

The rate was 27.4 percent in August 2023, which was 27.3 percent in August 2022, 31.4 percent in September 2023, which was 23.2 percent in September 2022.

Similarly, the rate was 26.8 percent in October 2023, 26.6 percent in October 2022, 29.2 percent in November 2023, 23.8 percent in November 2022.

The rate is likely to be around 30 percent in December this month, while the inflation rate in December last year was 24.5 percent.