The Nigerian Bureau of Statistics (NBS) has printed its Shopper Value Index / inflation report. The CPI is used to watch the motion of costs for Meals and different items within the nation.
The inflation fee continues to rise as: NBS report: headline inflation rose to 13.22% in August 2020 yearly. Within the earlier month, July, inflation was set at 12.82%.
In the meantime, meals inflation rose to 16.0% in July 2020 from 15.48% in July 2020. NBS additionally disclosed that core inflation was 10.52% in August 2020 from 10.10% in July 2020. – all 12 months spherical.
The report revealed that, month-on-month, headline inflation was “at 1.34% in August 2020 from 1.25% in July 2020. Meals inflation was at 1.67% in August 2020 from 1, 52% in July 2019. Core inflation to 1.05% in August 2020 from 0.75% in July 2020.
Rural / City 12 months-on-12 months: City (13.83% to 13.40%); Rural (12.65% to 11.28%);
Rural / City Month-to-month: City (1.42% to 1.27%); Rural (1.27% to 1.23%).
Inflation was highest within the following states; Kogi, Bauchi, Ebonyi and Yobe, Lagos, Kwara, Abuja respectively. In the meantime, on a month-to-month foundation; Ondo, Ogun, Abia, Plateau, Zamfara, Sokoto respectively.