NBS: Nigeria’s inflation increases

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The National Bureau of Statistics (NBS) says the Consumer Price Index, (CPI) which measured inflation for September increased to 11.28 per cent (year-on-year) from 11.23 per cent recorded in August. The NBS disclosed this in its “CPI and Inflation Report” for September released in Abuja.

According to the Bureau, the figure is 0.05 per cent points higher than the rate recorded in August. The report showed that increases were recorded in all the Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the headline index.

On month-on-month basis, NBS said that the Headline Index increased by 0.84 per cent in September down by 0.21 per cent points from the rate recorded in August (1.05 per cent). It said that the percentage change in the average composite CPI for the 12 months period ended  September over the average of CPI for the previous 12 months period. It however measured the CPI at 13.16 per cent in the period under review, showing 0.39 per cent point from 13.55 per cent recorded in August.

In similar vein, NBS said the average cost of refilling a five kilogramme (kg) cylinder for Liquefied Petroleum Gas (Cooking Gas) increased to N2,107 from N2,054 recorded in August. The bureau disclosed this in its “Liquefied Petroleum Gas (Cooking Gas) Price Watch’’ (September 2018) report yesterday in Abuja.

It said the price for refilling a 5kg cylinder of cooking gas increased by 2.60 per cent month on month  and 10.26 per cent year-on-year in the period under review.

According to the bureau,  states with the highest average price for refilling a five kg cylinder for cooking gas are Bauchi (N2,400.00), Borno (N2,440.00) and Gombe (N2,487.50). It said states with the lowest average price for refilling a five kg cylinder for cooking gas were Abuja and Ebonyi (N1,900.00), Enugu (N1,865.45) and Kaduna (N1,800.00).

Similarly, the NBS said the average cost of refilling a 12.5kg cylinder for cooking gas increased from N4,366.48 in August to N4,376.19 in September.

The same is applicable to Kerosene, which increased to  N297.28 in September from N288.75 recorded  in August. The bureau said the price of Kerosene increased by 2.95 per cent month-on-month and 12.40per cent year-on-year.


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