Fakoyejo Olalekan
The National Bureau of Statistics (NBS) has released the top three states with highest food inflation rate, as the country records 23.34% rate in September 2022, rising from the 23.12% recorded in August.
This followed the hike in Nigeria’s Consumer Price Index (CPI), which rose to 20.77% last month, up from the 20.52% headline inflation rate Africa’s largest economy recorded in August this year.
Join our WhatsApp ChannelAccording to report obtained from the National Bureau of Statistics, urban inflation rate had surged to 21.25% in September 2022, from 17.19% of same month last year.
During the same period in review, rural inflation rose to 20.32%, surpassing the 16.08% recorded in September 2021, indicating the government has been unable to curb inflation growth.
In the report, it was gathered that increases in prices of bread and cereals, food products, potatoes, yams, and other tubers, oil, and fat were responsible for the hike in food inflation.
The top three states with the highest rise in food inflation rate year-on-year are Kwara (33.09%), Kogi (28.46%), and Ebonyi (27.41%), while slowest rise was recorded in Kaduna (18.84%), Jigawa (19.20%) and Sokoto (19.44%).
Meanwhile, the National Bureau of Statistics said the all-items inflation rate (which has less farm produce) stood at 17.60% in September 2022, in contrast to the 13.74% recorded in September 2021.
The rise in all-items inflation rate, which also stands for core inflation, was driven by prices of Gas, Liquid fuel, Passenger transport by Air, Passenger travel by road, and Solid fuel.
States that recorded the highest rise in all items inflation rate year-on-year are Kogi (23.82%), Rivers (23.49%), and Benue (22.78%), while the slowest rise Abuja (17.87%), Borno (18.12%), and Adamawa (18.42%).
