The Consumer Price Index (CPI) measuring inflation increased to 11.44 per cent (year-on-year) in December against 11.28 per cent for November 2018, National Bureau of Statistics (NBS) confirmed this on its website Wednesday.
The December’s figure shows 0.16 per cent higher than the rate recorded in November in which increases were recorded across all divisions.
Rise in food index in the month under review was caused by increases in prices of soft drinks, fish, bread and cereals, oils and fats, coffee, tea and cocoa, meat, milk, cheese and egg, vegetables, potatoes, yam and other tubers.
The composite food index rose by 13.56 per cent in December 2018 compared to 13.30 per cent in November 2018.
On month-on-month basis, the headline index increased by 0.74 per cent in December 2018, up by 0.06 per cent points from the rate recorded in November 2018 (0.80) per cent.
The percentage change in the average composite CPI for the 12-month period ending December 2018 over the average of the CPI for the previous 12-month period was 12.10 per cent, showing 0.31 per cent point from 12.41 per cent recorded in November 2018.
“The urban inflation rate increased by 11.73 per cent (year-on-year) in December 2018 from 11.61 per cent recorded in November 2018, while the rural inflation rate increased by 11.18 per cent in December 2018 from 10.99 per cent in November 2018.
”All items less farm produce or Core inflation, which excludes the prices of volatile agricultural produce stood at 9.8 per cent in December 2018, maintaining the same rate recorded in November 2018 (9.8 percent).
“On month-on-month basis, the core sub-index increased by 0.50 per cent in December 2018. This was down by 0.18 per cent when compared with 0.68 per cent recorded in November 2018,” NBS stated.
It said highest increases were recorded in prices of domestic services and household services, dental services, garments, narcotics, major household appliances, whether electronic or not, medical services, cleaning, repair and hire of clothing and tobacco.
When compared state-by-state all items inflation on year-on-year basis was highest in Bayelsa (13.32%), Zamfara (13.23%) and Ekiti (13.18%), while Kwara (9.12%) Ogun (8.71%) and Cross River (8.21%) recorded the slowest rise in headline year-on-year inflation.
On month-on-month basis (December 2018 ) all items inflation was highest in Kebbi (1.72%), Kaduna (1.69%), and Zamfara (1.68%), while Ogun (0.07%) had the least with Kwara and Edo recording negative inflation or price deflation (general decrease in the general price level of goods and services or a negative inflation rate) in December 2018.
NBS said in December 2018, food inflation on a year-on-year basis was highest in Abuja (16.50%), Bayelsa (16.23%) and Nasarawa (16.15%), while Oyo (10.79%), Cross River (10.57%) and Ogun (10.46%) recorded the slowest rise in food inflation.
However, on month-on-month basis, December 2018 food inflation was highest in Yobe (2.40%), Kebbi and Zamfara (2.36%) and Kaduna (2.35%), while Cross River, Edo, Kwara, Ogun and Oyo all recorded food price deflation or negative inflation (general decrease in the general price level of goods and services or a negative inflation rate) in December 2018.
