Ebun Francis|
Nigeria’s consumer price index, which measures inflation, rose for the second consecutive in September, according to data released by the National Bureau of Statistics on Tuesday.
According to the report, inflation stood at 11.28% in September from 11.28% recorded in August on a year-on-year basis.
The report read in part, “On a month-on-month basis, the Headline index increased by 0.84 percent in September 2018, down by 0.21 percent points from the rate recorded in August 2018 (1.05) percent.”
“The urban inflation rate increased by 11.70 percent (year-on-year) in September 2018 from 11.67 percent recorded in August 2018, while the rural inflation rate increased by 10.92 percent in September 2018 from 10.84 percent in August 2018.
“On a month-on-month basis, the urban index rose by 0.86 percent in September 2018, down by 0.14 from 1.00 percent recorded in August, while the rural index also rose by 0.82 percent in September 2018, down by 0.14 percent from the rate recorded in August 2018 (0.96) percent.
“The composite food index rose by 13.31 percent in September 2018 compared to 13.16 percent in August 2018.”
The report noted that food items that their prices increased are, yam potatoes, meat, vegetable, fruits, fish, milk, cheese, egg, cereals, and bread.
Also the farmer-herdsmen crisis and most recently, flooding in some parts of the country, the report said, have resulted in a drop in food production.