• Business - Economy
  • Updated: December 15, 2020

Household Foods, States, With Highest Inflation Rate In Nigeria

The Consumer Price Index (CPI) report has revealed household foods which had the highest inflation in November this year. The report showed the foods whose prices rose amid Nigeria's second recession in five years.

The CPI report released by the Nigerian Bureau of Statistics (NBS) listed Bread & Cereals, Fish, Potatoes, Yam and other Tubers, Vegetables, Meats, Oil & Fats, and Fruits as the basic households that recorded hugh inflation within last month.

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Inflation in the prices of aforementioned goods was as a result of the rise in Food Price Index, which rose in November by 18.30% Year-on-Year from 17.38% in October 2020. For a Month-on-Month period, the Food Index rose by  2.04% in November, from 1.96% in October.

Inflation For All Items Across Nigeria

According to the NBS CPI report for Month-on-Month, the Headline Inflation rose byb1.60% in Novembed 2020 from 1.54% in Octover 2020. Core Inflation stood at 0.71% in November 2020 from 1.25% in October 2020.

Inflation Rate in Rural area on a Year-on-Year is 14.33% in November from 13.68% of October, while Month-on-Month is 1.56% last month, from 1.48% in October. Urban Inflation rate rose to 15.47% in November, from 14.81% recorded in October, while Month-on-Month was 1.65% in November from 1.60% in October.

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States Where Inflation Was Highest For All Items

Inflation was highest in most Northern states, with Kogi State leading the park, Bauchi State followed, and Zamfara State completed the list of three states with highest inflation rate.

It was learnt that Inflation Rate was slowest in Abia State, Delta State and Kwara State respectively.

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Olalekan Fakoyejo
Olalekan Fakoyejo

Fakoyejo Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ)....

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