Inflation up to 11.37% on food price increase – NBS

The consumer price index, (CPI) which measures inflation increased by 11.37 percent (year-on-year) in April 2019. This is 0.12 percent higher than the rate recorded in March 2019 (11.25) percent.

According to the National Bureau of Statistics CPI report for the month of April showed that food inflation led the rise as the index rose by 13.70 per cent in April 2019 compared to 13.45 per cent in March.

According the NBS, the rise was caused by increase in prices of meat, fish, oil and fats, bread and cereals, milk, cheese, egg, potato, yam and other tubers, fruits and vegetables.

On month-on-month basis, the food sub index increased by 1.14 per cent in April 2019, up by 0.26 per cent from 0.88 per cent recorded in March 2019.

Food inflation for April on year-on-year basis was highest in Kaduna (16.77%), Kebbi (16.75%) and Kwara (16.34%) while Rivers, Bayelsa and Kogi with 12.01 per cent, 11.25 per cent and 10.49 per cent respectively had the slowest rise.

“On a month-on-month basis, inflation was highest in Edo 2.55 per cent, Kebbi 2.34 per cent and Ogun 2.28 per cent while Abuja recorded deflation with rates in Rivers unchanged

“On a month-on-month basis, headline index increased by 0.94 per cent in April 2019, 0.15 per cent higher than the rate recorded in March 2019,” the report said.

Also, urban inflation increased by 11.70 per cent year-on-year in April 2019 from 11.54 per cent recorded in March 2019 while rural inflation increased by 11.08 per cent in April from 10.49 per cent the preceding month.

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