The Consumer Price Index, which measures inflation on Tuesday rose by 12.26 per cent year-on-year in March.

This new development was disclosed by the National Bureau of Statistics.

According to a report by The PUNCH the bureau in the CPI report disclosed that the 12.26 per cent inflation for March is 0.06 percentage points higher than the 12.2 per cent recorded in February.

In the report, it was stated that the lockdown in Abuja, Lagos and Ogun states which started in April and various major disruptions in normal economic activity in several States would not have any major impact on March inflation which the report focuses on.

The NBS also revealed that the index increased by 0.84 per cent in March, which is 0.05 per cent higher than the 0.79 per cent recorded in February, on a month-on-month basis.