Headline Inflation Increases By 11.37% YoY in April 2019; 0.12% Higher Than March 2019 Rate

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Wednesday, May 15, 2019  08:30AM / NBS

 

All Item Index

The consumer price index, (CPI) which measures inflation increased by 11.37 percent (year-on-year) in April 2019. This is 0.12 percent points higher than the rate recorded in March 2019 (11.25) percent. 

Increases were recorded in all COICOP divisions that yielded the Headline index. 

On month-on-month basis, the Headline index increased by 0.94 percent in April 2019, this is 0.15 percent rate higher than the rate recorded in March 2019 (0.79) percent. 

The percentage change in the average composite CPI for the twelve months period ending April 2019 over the average of the CPI for the previous twelve months period was 11.31 percent, showing 0.09 percent point from 11.40 percent recorded in March 2019. 

The urban inflation rate increased by 11.70 percent (year-on-year) in April 2019 from 11.54 percent recorded in March 2019, while the rural inflation rate increased by 11.08 percent in April 2019 from 10.99 percent in March 2019. 

On a month-on-month basis, the urban index rose by 1.00  percent in April 2019, up by 0.19 from 0.81 percent recorded in March 2019, while the rural index also rose by 0.90 percent in 

April 2019, up by 0.13 from the rate  recorded in March 2019 (0.77) percent. 

The corresponding twelve-month year-on-year average percentage change for the urban index is 11.69 percent in April 2019. This is less than 11.78 percent reported in March 2019, while the corresponding rural inflation rate in April 2019 is 11.00 percent compared to 11.08 percent recorded in March 2019.

 

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Food Index

The composite food index rose by 13.70 percent in April 2019 compared to 13.45 percent in March 2019. 

This rise in the food index was caused by increases in prices of Meat,  Fish, Oils and fats, Bread and cereals, Fish, Milk, Cheese and egg, Potatoes, yam and other tubers, Fruits and Vegetables. 

On month-on-month basis, the food sub-index increased by 1.14 percent in April 2019, up by 0.26 percent points from 0.88 percent recorded in March 2019.  

The average annual rate of change of the Food sub-index for the twelve-month period ending April 2019 over the previous twelve-month average was 13.34  percent, 0.08  percent points from the average annual rate of change recorded in March 2019 (13.42) percent.

 

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All Items Less Farm Produce

The "All items less farm produce’’ or Core inflation, which excludes the prices of volatile agricultural produce stood at 9.3 percent in April 2019, down by 0.2 percent when compared with 9.5 percent recorded in March 2019. 

On month-on-month basis, the core sub-index increased by 0.70 percent in April 2019. This was up by 0.17 percent when compared with 0.53 percent recorded in March 2019. 

The highest increases were recorded in prices of Medical services, Hospital services, Dental Services, Actual and imputed rentals for housing, Cleaning, repair and hire of clothing, Tobacco, Vehicle spare parts, Major household appliances, tobacco and garments. 

The average 12-month annual rate of change of the index was 9.91 percent for the twelve-month period ending April 2019; this is 0.13 percent points lower than 10.04 percent recorded in March 2019.

 

State Profiles

In analysing price movements under this section, note that the CPI is weighted by consumption expenditure patterns which differ across states. Accordingly, the weight assigned to a particular food or non-food item may differ from state to state making interstate comparisons of consumption basket inadvisable and potentially misleading.  

 

All Items Inflation

In April 2019, all items inflation on year on year basis was highest in Kebbi (14.82%), Bauchi (14.42%) and Zamfara (13.99%), while Abia (10.12%) Delta (9.94%) and Cross River (9.48%) recorded the slowest rise in headline Year on Year inflation. 

On month on month basis however, April 2019 all items inflation was highest in Bauchi (2.10%), Kebbi (1.88%) and Ogun (1.63%), while Plateau (0.35%), Rivers (0.28%) and Kogi (0.18%) recorded the slowest rise.

 

Food Inflation

In April 2019, food inflation on a year on year basis was highest in Kaduna (16.77%), Kebbi (16.75%) and Kwara (16.34%), while Rivers (12.01%), Bayelsa (11.25%) and Kogi (10.49%) recorded the slowest rise. 

On month on month basis however, April 2019 food inflation was highest in Edo (2.55%), Kebbi (2.34%) and Ogun (2.28%), while Rivers recorded no change, Abuja and Kogi recorded food price deflation or negative inflation (general decrease in the general price level of goods and services or a negative inflation rate).

 

Click Here to Download April 2019 CPI PDF Report

 

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Latest 2019 NBS Reports

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Q2 2019

1.       N3.42m Students Enrolled in Public Senior Secondary School in 2017 - NBS

2.      N324.59bn Generated as IGR in Q4 2018 - NBS

3.      Akwa Ibom State Reports Highest Unemployment Rate of 37.7% in Q3 2018 - NBS

4.      316,365kg of Drug Seized in 2018 - NBS

5.      Average Price of 1kg of Tomato Decreased By 6.32% MoM to N240.29 in March 2019 - NBS

6.      Average Fare Paid By Commuters Intercity Increased By 2.85% MoM to N1,592.07 in March 2019 - NBS

7.      Headline Inflation Increases By 11.25% YoY in March 2019; 0.06% Lower Than February 2019 Rate

8.     Average Prices of PMS, AGO, HHK and Cooking Gas – March 2019

9.      FAAC Disburses N619.86bn in March 2019

10.  Domestic Passenger Traffic Grew By 23.19% YoY in 2018 - NBS

11.   Lagos State Has The Highest Debt Profile in 2018 - NBS

12.  1.65m Applications Received By JAMB in 2018 - NBS

13.  FAAC Disburses N660.37bn in February 2019

14.  Nigeria Produced 55.81m Tonnes of Solid Minerals in 2018 - NBS

 

Q1 2019

15.   8.41m Workers Are Registered Under The Pension Scheme As At Q42018 - NBS

16.  Average Price of 1kg of Yam Tuber Decreased By -2.24% MoM to N206.48 in February 2019 - NBS

17.   All Region Terms of Trade Fell -2.78% Due to a Fall in the Prices of Goods Traded in Africa - NBS

18.  Average Fare Paid By Commuters Within City Increased By 1.43% MoM to N177.57 in February 2019 - NBS

19.  Headline Inflation Increases By 11.31% YoY in February 2019; 0.06% Lower Than January 2019 Rate

20. Average Prices of PMS, AGO, HHK and Cooking Gas – February 2019

21.  Active Voice Subscribers Grew By 6.66% in Q4 2018 - NBS

22. 2,532 Road Traffic Crashes Occurred in Q4 2018 - NBS

23. Total Trade Declined By 5.1% QoQ in Q4 2018; Rose By 42.9% YoY

24. GDP By Income and Expenditure Approach Q1 and Q2 2018 - Household Final Consumption Grew by 0.78%

25.  1.67m Customers Metered As At Q4 2018 - NBS

26. N298.01bn Generated as VAT in Q4 2018 - NBS

27.  Total Value of Credit Allocated By Banks Stood At N15.13trn As At Q4 2018 - NBS

28. Average Price of 1kg of Tomato Decreased By 2.39% YoY To N265.49 in January 2019 - NBS

29. FAAC Disburses N649.19bn in January 2019

30. Average Intercity Bus Fare Decreased By -13.90% MoM To N1,541.38 in January 2019

31.  Headline Inflation Increases By 11.37% YoY in January 2019; 0.07% Lower Than December 2018 Rate

32. Average Prices of PMS, AGO, HHK and Cooking Gas – January 2019

33. Total Value of Capital Importation into Nigeria Stood at $16,812.47m in 2018 – NBS

34. Nigeria’s GDP Grew By 2.38% YoY in Real Terms in Q4 2018 and 1.93% in Full Year

35.  828,502 Employees Employed By 1,110 Registered Private Guard Companies in 2018 - NBS

36. States Generate N264.38bn as IGR in Q3 2018 - NBS

37.  NBS Publishes Drug Use in Nigeria 2018 Survey Report

38. FAAC Disburses N3.19trn To FG in 2018 - NBS

39. FAAC Disburses N2.38trn To FG in 2017 - NBS

40. FAAC Disburses N812.76bn in December 2018 - NBS

41.  Average Price of 1kg of Tomato Decreased By -7.76% MoM To N294.36

42. Average Within City Bus Journey Fare Decreased By -5.64% MoM To N181.61

43. Headline Inflation Increases By 11.44% YoY in December 2018; 0.16% Higher Than November 2018 Rate

44. Average Prices of PMS, AGO, HHK and Cooking Gas – December 2018

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