Nigeria’s Inflation Rises To 12.34%

Some of the highest increases were in specific food items like oil, fish, and potatoes while in other sub-sectors, passenger transport, medical services, hospital services and pharmaceutical products recorded some of the highest level of inflation.

Dr. Yemi Kale is the Statistician General of the National Bureau of Statistics of Nigeria / Photo credit: stearsng.com
Dr. Yemi Kale is the Statistician General of the National Bureau of Statistics of Nigeria / Photo credit: stearsng.com

The latest data released by the Nigeria Bureau of Statistics on Thursday showed that the consumer price index, (CPI) which measures inflation increased by 12.34 per cent (year-on-year) in April 2020.

This is 0.08 per cent points higher than the rate recorded in March 2020 (12.26 per cent).

On month-on-month basis, the Headline index increased by 1.02 percent in April 2020. This is 0.18 percent rate higher than the rate recorded in March 2020 (0.84 per cent).

Some of the highest increases were in specific food items like oil, fish, and potatoes while in other sub-sectors, passenger transport, medical services, hospital services and pharmaceutical products recorded some of the highest level of inflation.

Rising prices for all items, year on year, were highest in Bauchi with a 14.44 per cent inflation rate, Sokoto with 13.99 per cent and Plateau with 13.68 per cent.

States with the lowest levels were Edo with 10.87 per cent, Abuja with 10.81 per cent and Kwara with 8.98 per cent.

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