Home News Nigerian inflation accelerates as food price spikes

Nigerian inflation accelerates as food price spikes


WED, MAY 15 2019-theG&BJournal-Nigeria’s headlines consumer price (CPI) index expanded for the first time in three months as clash between herders and farmers in the middle belt caused food prices to go up.

Headline inflation was 11.37 percent in April, expanding from 11.25 percent in March, according to a recent data released by the National Bureau of Statistics (NBS). 

Further analysis of the figure shows on a month-on-month basis, the headline index rose faster by 0.97 percent (March 2019: 0.79 percent) – highest month-on-month jump since September 2018.

Food inflation rose by 13.70 percent in the review period, sharper increase relative to 13.45 percent recorded in March. Notably, the highest increases were recorded in the prices of Meat, Fish, oils and fats, Bread and cereals, Milk, Cheese and Egg, Potatoes, Yam and other tubers.

On a month-on-month basis, food inflation increased faster by 1.14 percent, relative to the 0.88 percent recorded in the previous month.

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