The consumer price index for the month of September maintained its elevated pressure as the index for the month was 13.71%, which represents a 0.49 percentage change from the previous month Consumer Price Index of 13.22%. The connecting index to the Consumer Price Index, returned elevated indices for the month, as both food item inflation and Core inflation both appreciated to 16.66% and 10.58%. The persistent rise in Consumer Price Index, is associated with structural clefts associated with disrupted farming cultivation and harvesting, also hike in electricity tariffs, increased Premium Motor Spirits, and prolonged border closures remain the major propelling factors for an elevated inflationary pressure. According to the state inflationary demography, Bauchi, Zamfara and Kogi were the states with the highest all items inflation of 17.85%, 17.42%, and 16.66%, while Lagos, Abuja, and, Kwara were states with less all items inflation of 11.19%, 10.59%, and 10.53%.
Category: Economy Highlights
