Inflation Reaches 13.71% As Bauchi, Kogi, Zamfara Feel Heat

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The Consumer Price Index (CPI) which measures inflation increased by 13.71 percent in September 2020 with Bauchi, Kogi and Zamfara states having the highest effects.

The National Bureau of Statistics (NBS) October report released on Thursday, said the increase is 0.49 percent point higher than the 13.22 percent of August.

On month-on-month basis, all items inflation was highest in Bauchi (3.36%), Kogi (2.63%) and zamfara (2.75%), while Nasarawa (0.66%), Abuja (0.64%) and Ondo (0.31%) recorded the slowest rise.
Increases were recorded in all the 12 Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the Headline index.

On month-on-month basis, the headline index increased by 1.48 per cent in September 2020. This is 0.14 percent rate higher than the rate recorded in August 2020 (1.34) percent.

The composite food index rose by 16.66 per cent in September 2020 compared to 16.00 per cent in August 2020. This rise in the food index was caused by increases in prices of bread and cereals, potatoes, Yam and other tubers, meat, fish, fruits and oils and fats.

On month-on-month basis, the food sub-index increased by 1.8 per cent in September 2020, up by 0.21 per cent points from 1.67 per cent recorded in August 2020.

The highest increases were recorded in prices of passenger transport by air, medical services, hospital services, pharmaceutical products, passenger transport by road, motor cars, vehicle spare parts, maintenance and repair of personal transport equipment, repair of furniture and paramedical services.

On monthly basis, the September 2020 food inflation was highest in Zamfara (3.65%), Anambra (3.19%) and Kaduna (3.15%), while Nasarawa (0.51%) and Abuja (0.15%) recorded the slowest rise with Ondo recording price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate).

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