A report by the Nigerian Bureau of Statistics (NBS) revealed that food inflation in the month of May on a year-on-year basis was highest in the state of Kogi at 25.12 percent.
This was disclosed in its Consumer Price Index (CPI) for May 2021, noting that the CPI rose by 17.93 percent year-on-year in May 2021, falling by 0.19 percent from the 18.12 percent recorded in April 2021.
On a month-on-month basis, the headline index grew by 1.01 percent in May, which represents a 0.04 percent increase from April.
Prices of food items that caused a spike in the food index include Bread, Cereals, Milk, Cheese, Eggs, Fish, Soft
drinks, Coffee, Tea and Cocoa, Fruits, Meat, Oils and fats, and Vegetables.
“The highest increases were recorded in prices of Pharmaceutical products, Garments, Shoes and other footwear, Hairdressing salons and personal grooming establishments, Furniture and furnishing, Carpet and other floor covering, Motor cars, Hospital services, Fuels and lubricants for personal transport equipment, Cleaning, repair and hire of clothing, Other services in respect of personal transport equipment, Gas, Household textile and Non durable household goods.”
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All Items Inflation
On a state-by-state analysis, the report noted that Kogi, Bauchi, and Sokoto states recorded the highest inflation at 25.13 percent, 23.02 percent, and 20.11 percent respectively.
While states like Katsina, Imo, and Delta recorded the slowest rise in headline year-on-year inflation at 15.69 percent, 15.52 percent, and 14.85 percent respectively.
It added that “On month on month basis, however, May 2021 all items inflation was highest in Kogi (2.22%), Ogun
(2.17%) and Cross River (2.07%), while Ekiti (0.02%) recorded the slowest rise in headline month on month with River and Sokoto recording price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate).”
Food Inflation
The report stated that the states that had the highest food inflation in May on a year-on-year basis were Kogi (32.82%), Kwara (26.02%), and Enugu (25.43%), while Akwa Ibom, Bauchi, and Abuja with 20.06 percent, 18.65 percent, and 16.91 percent respectively recorded the slowest rise in year-on-year inflation.
“On month on month basis however, May 2021 food inflation was highest in Kogi (3.11%), Ogun (2.89%) and Anambra (2.37%), while Edo, Sokoto and Ekiti recorded price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate),” it added.
