Inflation rate rose to 11.37% in April, says NBS
The National Bureau of Statistics on Wednesday released the Consumer Price Index, which measures inflation with the index increasing to 11.37 per cent (year-on-year) in April.
The bureau in the report said the 11.37 per cent year-on-year inflation rate is 0.12 percentage points higher than the 11.25 per cent recorded in March.
On a month-on-month basis, the report stated that the index increased by 0.94 per cent in April, adding that this was 0.15 percentage points higher than the 0.79 per cent recorded in March.
The report stated that urban inflation rate increased by 11.70 per cent year-on-year in April from 11.54 per cent recorded in March, while the rural inflation rate increased by 11.08 per cent in April from 10.99 per cent in March.
On a month-on-month basis, the NBS said the urban index rose by one per cent in April, up by 0.19 percentage points from 0.77 per cent recorded in March.
The report stated that food index rose by 13.70 per cent in April compared to 13.45 per cent in March.
It said the rise in the food index was caused by increase in prices of bread and cereals, meat, fish, potatoes, yam and other tubers, oils and fats, and vegetables, and fruits.
In terms of state inflation profile, the report said price increase was highest in Kebbi (14.82 per cent), Bauchi (14.42 per cent) and Zamfara (13.99 per cent), while Abia (10.12 per cent) Delta (9.94 per cent) and Cross River (9.48 per cent) recorded the slowest rise in headline year-on-year inflation.