Sponsored

Inflation Hits 11.37% As Food Prices Increase

The National Bureau of Statistics has said the increase in food prices resulted in higher inflation in April.

This was contained in a report on its website, showing that the Consumer Price Index which measures inflation, increased by 11.37 percent (year-on-year) in April 2019, signifying a 0.12 percent increase as compared to the 11.25 percent rate recorded in March 2019.

“On a month-on-month basis, the headline index increased by 0.94% in April 2019, this is 0.15% rate higher than the rate recorded in March 2019 (0.79%),” the report read.

Advertisement

“The urban inflation rate increased by 11.70% from 11.54% recorded in March 2019 whiles, the rural inflation rate increased by 11.08% in April 2019 from 10.99% in March 2019.

“The composite food index rose by 13.70% in April 2019 compared to 13.45% in March 2019.”

Advertisement

The rise in the food index according to the report followed the increase in prices of “meat, fish, oils and fats, bread and cereals, fish, milk, cheese, and egg, potatoes, yam and other tubers, fruits and vegetable.”

Advertisement

NBS listed states with the highest rise in food inflation to include, Kaduna (16.77%), Kebbi (16.75%) and Kwara (16.34%) while Rivers (12.01%), Bayelsa (11.25%) and Kogi (10.49%) recorded the slowest rise.

The bureau, on all item inflation, said the highest rise was recorded in Kebbi (14.82%), Bauchi (14.42%) and Zamfara (13.99%) while Abia (10.12%), Delta (9.94%) and Cross River (9.48%) recorded the slowest rise in headline year on year inflation.

Advertisement

You can unsubscribe at any time
You might also like

Advertisement

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Do NOT follow this link or you will be banned from the site!