Inflation Hits 33.20% in March – NBS
The Nationwide Bureau of Statistics (NBS) Monday, April 15, stated the inflation price elevated from 31.70% in February 2024 to 33.20% in March 2024.
In accordance with the Bureau in its Shopper Value Index (CPI) and Inflation Report March 2024, it rose by 1.50% level in comparison with the earlier month.
NBS stated: “In March 2024, the headline inflation price elevated to 33.20% relative to the February 2024 headline inflation price which was 31.70%.
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“Trying on the motion, the March 2024 headline inflation price confirmed a rise of 1.50% factors when in comparison with the February 2024 headline inflation price.”
The doc stated on a year-on-year foundation, the headline inflation price was 11.16% factors larger in comparison with the speed recorded in March 2023, which was 22.04%. This exhibits that the headline inflation price (year-on-year foundation) elevated in March 2024 when in comparison with the identical month within the previous yr (i.e., March 2023).
NBS additional famous that on a month-on-month foundation, the headline inflation price in March 2024 was 3.02%, which was 0.10% decrease than the speed recorded in February 2024 (3.12%).
The Bureau defined which means that in March 2024, the speed of improve within the common worth degree is lower than the speed of improve within the common worth degree in February 2024.