NBS: Food Prices Highest In Kogi, Delta, Kwara As Inflation Hits 11.24%

The September 2019 Consumer Price Index (CPI) report has been released by the National Bureau of Statistics (NBS).

The NBS measured inflation to have increased to 11.24 % (year-on-year) in September 2019 indicating a  0.22 % increase point as compared to 11.02%  recorded in August 2019.

The report explained that in comparison with previous months in 2019, there was an increase in the price of goods, services and food items in September 2019.

According to the report, there was an increase in prices of bread and cereals, Oils and fats, Meat, Potatoes, Yam and other tubers, fish and vegetables in the month under review.

Food Inflation In September 2019 on a year on year basis was highest in Niger (16.65%), Nasarawa (16.57%) and Abuja (16.31%), while Akwa Ibom (11.72%), Benue (11.22%) and Bayelsa (9.95%) recorded the slowest rise in price of food items.

The report further placed the rise in the prices of food items as highest in Kogi (4.90%), Delta (3.82%) and Kwara (3.70%), on month on month basis. While Kano (0.18%) and Zamfara (0.17%) recorded the slowest rise with Rivers recording price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate).

From the report, the prices paid for goods and services by those living in the urban areas (urban inflation rate) increased by 11.78 % (year-on-year) in September 2019 from 11.48 % recorded in August 2019, while the prices paid for goods and services by those living in the rural areas (rural inflation rate) increased by 10.77 % in September 2019 from 10.61 % in August 2019.

On the inflation of all items, In September 2019, all items inflation on year on year basis was highest in Kebbi (14.09%), Bauchi (13.74%) and Plateau (13.25%). This implies that the price of items in the mentioned states became more expensive in comparison with September index of previous year assessment.

Meanwhile, Delta (9.72%), Bayelsa (9.40%) and Kwara (8.46%) recorded the slowest rise in Year on Year price increase.