Lagos, Kogi, and Rivers States have been named as the most expensive states in Nigeria, by the National Bureau of Statistics (NBS), Africa Today News, New York reports.
NBS’s November latest Consumer Price Index disclosed that the All-Items Inflation rate is the highest in the three states.
Accordingly, the report stated that Kogi (33.28 per cent), Lagos (32.30 per cent), and Rivers (32.25 per cent) states recorded the prices on a year-on-year basis.
Meanwhile, Borno (22.47 per cent), Katsina (24.91 per cent), and Plateau (25.53 per cent) recorded the slowest rise in Headline inflation on a Year-on-Year basis.
On a month-on-month basis, however, November 2023 recorded the highest increases in Kano (3.55 per cent), Kebbi (3.34 per cent), Borno (3.24 per cent), while Taraba (0.74 per cent), Anambra (1.00 per cent) and Enugu (1.18 per cent) recorded the slowest rise in Month-on-Month inflation.
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Narrowing the analysis to food inflation in November 2023, on a Year-on-Year basis, Kogi was highest (41.29 per cent), Kwara (40.72 per cent) and Rivers (40.22 per cent), while Bauchi (26.14 per cent), Borno (27.34 per cent) and Jigawa
(27.63 per cent) recorded the slowest rise in food inflation on a Year-on-Year basis.
On a Month-on-Month basis, however, in November 2023, food inflation was highest in Cross River (4.37 per cent), Edo (3.95 per cent) and Rivers (3.91 per cent), while Anambra (0.63 per cent), Oyo (0.91 per cent) and Bauchi (1.00 per cent) recorded the slowest rise in inflation on a Month-on-Month basis.
Africa Today News, New York reports that Nigeria’s inflation in November rose to 28.20 per cent.
The National Bureau of Statistics disclosed this in its November consumer price index report.
The figure presents the Eleventh times’ hike in Nigeria’s inflation headline inflation rates in 2023.
The November inflation rate showed an increase of 0.87 per cent points compared to the October 2023 headline inflation rate. On a year-on-year basis, the headline inflation rate was 6.73 per cent points higher compared to the rate recorded in November 2022, which was 21.47 per cent.