Top Three States with the Lowest Food Inflation Rate in Nigeria.

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The food Inflation rate in Nigeria was lowest in Kogi, Bauchi, and Benue as recorded in the month of December 2017 on a year-on-year basis, as gathered from the National Bureau of Statistics (NBS) report on Tuesday, January 16, 2017.

According to the report, food inflation on a year on year basis was highest in Kwara (24.46%), Nasarawa (22.77%) and Yobe (22.60%).

The data reveals on a month on month basis however, Edo (1.90%) has the highest food inflation rate closely followed by Niger (1.76%) and Akwa Ibom (1.76%), while Kogi, Kwara, Ebonyi, Jigawa, Abia, Nasarawa, Sokoto, Gombe, Borno, Benue, Oyo, Kaduna, and Abuja all recorded food price deflation or negative inflation (general decrease in the general price level of goods and services or a negative inflation rate) in December 2017. 

High year on year food prices and food price pressure continued into December though consistently at a slower pace month on month and at a slower pace year on year. The Food Index increased by 19.42 percent (year-on-year) in December, down from the rate recorded in November (20.30 percent).

On a month-on-month basis, the Food sub-index increased by 0.58 percent in December, down by 0.30 percent from 0.88 percent recorded in November. The average annual rate of change of the Food sub-index for the twelve-month period ending in December 2017 over the previous twelve-month average was 19.55 percent, 0.16 percent points from the average annual rate of change recorded in November (19.39) percent.

The rise in the index was caused by increases in prices of bread and cereals, potatoes, yam and other tubers, coffee tea, and cocoa, milk cheese and eggs, fish and oils and fats.

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The ‘’All Items less Farm Produce’’ or Core sub-index, which excludes the prices of volatile agricultural, stood during the month of December at 12.10 percent points, down from 12.20 percent recorded in November as all key divisions which contribute to the index increased.

On a month-on-month basis, the Core sub-index increased by 0.51 percent in December, higher from 0.78 percent recorded in November.

The average 12-month annual rate of change of the index was 13.46 percent for the twelve-month period ending in December 2017; this is 0.47 percent points lower than 13.93 percent recorded in November.

The highest increases were recorded in prices of Fuel and lubricants for personal transport equipment, solid fuels, passenger transport by air, clothing materials and other articles of clothing, Vehicle spare parts, non-durable goods, furniture and furnishing, carpet and other floor coverings,  shoes and other footwear, bicycles and motorcycles, hospital services and glassware, table and household utensils and appliances.

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Top Three States with the Lowest Food Inflation Rate in Nigeria. - Brand Spur Top Three States with the Lowest Food Inflation Rate in Nigeria. - Brand Spur