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Akwa Ibom Leads Nigerian States With Highest Inflation Rate

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The National Bureau of Statistics (NBS) has released its Consumer Price Index (CPI) report for July 2022, disclosing the states that has the highest inflation rate across Nigeria.

In the inflation data released on Monday, the National Bureau of Statistics (NBS) reported that Akwa Ibom State, Ebonyi State and Kogi recorded the highest rise in inflation rate year-on-year.

A breakdown of the Consumer Price Index disclosed Akwa Ibom reported inflation rate of 22.88%, Ebonyi State residents experienced a rate of 22.51%, with Kogi State recording 22.08%.

The slowest rise in inflation rate was reported in Jigawa, Kaduna and Bornu, with the former recording a rate of 16.62%, Kaduna State inflation hitting 17.04, and that of Bornu rising to 18.04%.

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In the food inflation, on a year-on-year growth, the highest rise was in Kwara State, Akwa Ibom and Kogi State, with the three states posting 29.28%, 27.22%, 26.08% rates respectively.

Kaduna, Jigawa and Anambra recorded the slowest rise in inflation rate year-on-year, as Kaduna recorded 17.16%, Jigawa reporting 17.46%, and Anambra pulling 19.25% during the period.

Meanwhile, note that rural inflation rate hit 19.22% in July, above the 16.75% recorded during the corresponding period of 2021. Urban inflation was 20.09% in July 2022, against the 18.01% reported in the same period last year.

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