“In September 2020, food inflation on a year on year basis was highest in Zamfara (20.94%), Kogi (19.06%) and Plateau/Yobe(18.90%),while Nasarawa(13.94%),Lagos (13.87%) and Ondo (13.59%) recorded the slowest rise”.
The Nigeria Bureau of Statistics just released Its September CPI/Inflation report and it revealed that Nigeria’s inflation rate rose by 0.49 percentage point to 13.71 percent in September from 13.22 percent in August.
“The consumer price index, (CPI) which measures inflation increased by 13.71 percent (year-on-year) in September 2020. This is 0.49 percent points higher than the rate recorded in August 2020 (13.22) percent.
According to the NBS, food inflation rose by 0.66 percent point to 16.66 percent during the period. And this was due to increase in prices of bread and cereals, potatoes, yam and other tubers, meat, fish, fruits and oils and fats.
The bureau also revealed that urban inflation in the country also increased by 14.31 percent.
“The urban inflation rate increased by 14.31 percent (year-on-year) in September 2020 from 13.83 percent recorded in August 2020, while the rural inflation rate increased by 13.14 percent in September 2020 from 12.65 percent in August 2020.
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“On a month-on-month basis, the urban index rose by 1.56 percent in September 2020, up by 0.14 from 1.42 percent recorded in August 2020, while the rural index also rose by 1.40 percent in September 2020, up by 0.13 from the rate recorded in August 2020 (1.27 percent).
The ”All items less farm produce” or Core inflation, which excludes the prices of volatile agricultural produce stood at 10.58 percent in September 2020, up by 0.06 percent when compared with 10.52 percent recorded in August 2020.
The bureau noted that the highest increases were recorded in prices of Passenger transport by air, Medical services, Hospital services, Pharmaceutical products, Passenger transport by road, Motor cars, Vehicle spare parts, Maintenance and repair of personal transport equipment, Repair of furniture and Paramedical services.
State profiles on all items inflation on year on year and month to month basis was also revealed in the report
“In September 2020, all items inflation on year on year basis was highest in Bauchi (17.85%), Zamfara (17.42%) and Kogi (16.66%), while Lagos (11.19%), Abuja (10.59%) and Kwara (10.53%) recorded the slowest rise in headline Year on Year inflation.
“On month on month basis however, September 2020 all items inflation was highest in Bauchi (3.36%), Kogi (2.63%) and zamfara (2.75%), while Nasarawa (0.66%), Abuja (0.64%) and Ondo (0.31%) recorded the slowest rise in headline month on month inflation.
The highest rate of food inflation in several states was also revealed in the report.
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“In September 2020, food inflation on a year on year basis was highest in Zamfara (20.94%),Kogi (19.06%) and Plateau/Yobe(18.90%),while Nasarawa(13.94%),Lagos (13.87%) and Ondo (13.59%) recorded the slowest rise.
“On month on month basis however, September 2020 food inflation was highest in Zamfara (3.65%), Anambra (3.19%) and Kaduna (3.15%), while Nasarawa (0.51%) and Abuja (0.15%) recorded the slowest rise with Ondo recording price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate).
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