…food inflation up by 15.03%
Nigeria’s annual inflation in Nigeria stood at 12.34 per cent in April, compared with 12.26 per cent in March, the National Bureau of Statistics said on Thursday.
This is 0.08 per cent points higher than the rate recorded in March 2020.
On a month-on-month basis, the Headline index increased by 1.02 per cent in April 2020. This is a 0.18 percent rate higher than the rate recorded in March 2020 (0.84 percent).
The corresponding twelve-month year-on-year average percentage change for the urban index is 12.26 per cent in April 2020. This is higher than 12.15 per cent reported in March 2020, while the corresponding rural inflation rate in April 2020 is 11.20 per cent compared to 11.14 per cent recorded in March 2020.
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On a month-on-month basis, the urban index rose by 1.06 percent in April 2020, up by 0.18 from 0.88 percent recorded in March 2020, while the rural index also rose by 0.98 percent in April 2020, up by 0.18 from the rate recorded in March 2020 (0.80) percent.
The percentage change in the average composite CPI for the twelve months period ending April 2020 over the average of the CPI for the previous twelve months period was 11.71 percent, showing 0.09 percent point rise from 11.62 percent recorded in March 2020.
The urban inflation rate increased by 13.01 percent (year-on-year) in April 2020 from 12.93 percent recorded in March 2020, while the rural inflation rate increased by 11.73 percent in April 2020 from 11.64 percent in March 2020.
A separate food price index showed inflation at 15.03% in April, compared with 14.98% in March.
You can see the entire CPI report here
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