Inflation Highest In Kogi, Gombe, Oyo As Headline Lowers To 16.63%

Inflation Highest In Kogi, Gombe, Oyo As Headline Lowers To 16.63%

All Items Inflation on year-on-year basis was highest in Kogi, Gombe and Oyo states in September 2021recording  at 20.82 per cent, 19.09 per cent and 19.07 per cent respectively, while Yobe  at 14.96 per cent, Edo 14.85 per cent.

Kwara 13.70 per cent recorded the slowest rise in Headline Inflation (year-on-year), according data from the National Bureau of Statistics  (NBS)

On the whole, Nigeria’s headline inflation in the month of September 2021, dropped further to 16.63 per cent  compared to 17.01  recorded in the previous month.

The latest consumer price index (CPI) report released by the NBS also that  the CPI which measures the rate of inflation rose by 16.63 per cent  year-on-year in the review month. This represents 0.38 per cent  point decrease compared to 17.01% recorded in August 2021.

Food inflation, which is a closely watched index also dropped to 19.57 per cent  in September from 20.3 per cent recorded in the prior month while core inflation rose to 13.74 per cent, up by 0.33 per cent  when compared with 13.41 per cent recorded in August 2021.

This rise in the food index was caused by increases in prices of oils and fats, bread and cereals, fish, coffee, tea and cocoa, potatoes, yam and other tuber and milk, cheese and egg.