Federal finance and statistics / National Bureau of Statistics

CPI and Inflation Report March 2023

Executive Summary In March 2023, the headline inflation rate rose to 22.04% compared to February 2023 headline inflation rate which was 21.91%. Looking at the trend, the March 2023 inflation rate showed an increase of 0.13% points when compared to February 2023 headline inflation rate. On a year-on-year basis, the headline inflation rate was 6.13% points higher compared to the rate recorded in March 2022 which was 15.92%. This shows that the headline inflation rate (year-on-year basis) increased in March 2023 when compared to the same month in the preceding year (i.e., March 2022). The contr…