<p>Nigeria&rsquo;s April inflation figure on Monday increased to 22.22 per cent from 22.04 per cent last month.</p> <p>The National Bureau of Statistics Consumer Price Index report released Monday disclosed this.</p> <p>The data represented a 0.18 per cent increase from April&rsquo;s inflation figure.</p> <p>On a month-on-month basis, the All-Items Index in April 2023 was 1.91%, 0.05% points higher than the rate recorded in March 2023 (1.86%). This means that in April 2023, on average, the general price level was 0.05% higher relative to March 2023.</p> <p>Nigeria&rsquo;s inflation rate continues its uptrend despite multiple interest rate hikes by the central bank to tame the rising rate. The CBN has increased the Monetary Policy Rate (MPR) from 11.5% to 18% between May last year and March 2023.</p>