July 14, 2024

Inflation: NBS reveals three most expensive states in Nigeria

Bauchi, Kogi, and Oyo are Nigeria’s three most expensive states on a year-on-year basis after recording the highest All-Items Inflation in May 2024.

However, on a month-on-month basis, Kano, Gombe, and Bauchi are the most expensive states in Nigeria.

The National Bureau of Statistics disclosed this in its latest May Consumer Price Index and Inflation report released on Saturday.

The report said in May 2024, the All-Items inflation rate on a Year-on-Year basis was highest in Bauchi 42.30 percent, Kogi (39.38 percent Oyo (37.73 percent).

On the flip side, Borno (25.97 percent), Benue (27.74 percent) and Delta (28.67 percent) recorded the slowest rise in Headline inflation on a Year-on-Year basis.

Month-on-Month basis, however, May 2024 recorded the highest increases in Kano
(4.24 percent), Gombe (4.06 percent), Bauchi (3.75 percent), while Ondo (0.57 percent), Kwara (1.19 percent) and Yobe(1.24 percent) recorded the slowest rise in Month-on-Month inflation.

In terms of food inflation Kogi, Ekiti, and Kwara states recorded the highest on a Year-on-Year basis.

NBS stated that food inflation stood at Kogi 46.32 percent, Ekiti (44.94 percent), Kwara (44.66 percent).

Conversely, Adamawa with 31.72 percent, Bauchi (34.35 percent) and Borno (34.74 percent) recorded the slowest rise in Food inflation on a Year-on-Year basis.

On a Month-on-Month basis, however, in the period under review, Food inflation was highest in Gombe state (4.88 percent), Kano (4.68 percent), and Bayelsa (3.62 percent), while Ondo (0.02 percent), Yobe (0.95 percent) and Adamawa (1.02 percent) recorded the slowest rise in Food inflation on Month-on-Month basis.

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