James Emejo in Abuja
The consumer price index (CPI) which measures inflation rose to 11.28 percent (year-on-year) in September compared to 11.23 percent in August, the National Bureau of Statistics (NBS) has stated.
It said the 0.05 percent points increase was as a result of increases recorded in all the divisions that yielded the Headline index.
According to the CPI report for September, released on Sunday, urban inflation rate increased by 11.70 percent (year-on-year) from 11.67 percent recorded in August, while the rural inflation rate increased by 10.92 percent in September compared to
10.84 percent in August.
Food inflation rose by 13.31percent in September 2018 compared to 13.16 percent in August 2018.
The rise in the food index was attributed to
increases in prices of potatoes, yams and other tubers, vegetables, fruits, meat, milk, cheese and egg, bread and cereals, and fish.
On a month-on-month basis, the urban index rose by 0.86 percent in September, 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 the previous month (0.96) percent, the NBS stated.
Core inflation, which excludes the prices of volatile agricultural produce stood at 9.8 percent in September, down by 0.2 percent from the 10.0 percent rate recorded in August.
However, on month-on-month basis, the Headline index increased by 0.84 percent in September, down by 0.21 percent points from the rate recorded in August (1.05) percent.
The percentage change in the average composite CPI for the twelve months period ending September over the average of the CPI for the previous twelve months period was 13.16 percent, showing 0.39 percent point from 13.55 percent recorded in August 2018.
On month-on-month basis, the food sub-index increased by 1.00 percent in September 2018, down by 0.42 percent points from 1.42 percent recorded in August.
According to the statistical agency, the average annual rate of change of the food sub-index for the twelve-month period ending September over the previous twelve-month average was 15.92 percent, 0.58 percent points from the average annual rate of change recorded in August (16.50) percent.