Headline Inflation Increases By 11.22% YoY in June 2019; 0.18% Lower Than May 2019 Rate

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Monday, July 15 2019  12:00 PM / NBS  

 

All Item Index 

The consumer price index, (CPI) which measures inflation increased by 11.22 percent (year-on-year) in June 2019. This is 0.18 percent points lower than the rate recorded in May 2019 (11.40) percent. 

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

On month-on-month basis, the Headline index increased by 1.07 percent in June 2019, this is 0.04 percent rate lower than the rate recorded in May 2019 (1.11) percent.

The percentage change in the average composite CPI for the twelve months period ending June 2019 over the average of the CPI for the previous twelve months period was 11.29 percent, similar to the 11.29 percent recorded in May 2019. 

The urban inflation rate increased by 11.61percent (year-on-year) in June 2019 from 11.76 percent recorded in May 2019, while the rural inflation rate increased by 10.87 percent in June 2019 from 11.08 percent in May 2019. 

On a month-on-month basis, the urban index rose by 1.10 percent in June 2019, up by 0.05 from 1.15 percent recorded in May 2019, while the rural index also rose by 1.05 percent in June 2019, up by 0.02 from the rate  recorded in May 2019 (1.07) percent. 

The corresponding twelve-month year-on-year average percentage change for the urban index was 11.65 percent in June 2019. This is less than 11.66 percent reported in May 2019, while the corresponding rural inflation rate in June 2019 was 10.99 percent compared to 10.98 percent recorded in May 2019. 

 

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Food Index 

The composite food index stood at 13.56 percent in June 2019 compared to 13.79 percent in May 2019. 

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

On month-on-month basis, the food sub-index increased by 1.36 percent in June 2019, down by 0.05 percent points from 1.41 percent recorded in May 2019.  

The average annual rate of change of the Food sub-index for the twelve-month period ending June 2019 over the previous twelve-month average was 13.42 percent, 0.05  percent points higher from the average annual rate of change recorded in May 2019 (13.37) 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 8.8 percent in June 2019, down by 0.2 percent when compared with 9.0 percent recorded in May 2019. 

On month-on-month basis, the core sub-index increased by 0.85 percent in June 2019. This was up by 0.10 percent when compared with 0.75 percent recorded in May 2019. 

The highest increases were recorded in prices of Medical and hospital services, Cleaning, repair and hire of clothing, Repair and hire of footwear, Repair of household appliances, Actual and imputed rentals for housing, Major household appliances whether electronic or not and Tobacco. 

The average 12-month annual rate of change of the index was 9.64 percent for the twelve-month period ending June 2019; this is 0.13 percent points lower than 9.77 percent recorded in May 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 June 2019, all items inflation on year on year basis was highest in Bauchi (15.40%), Kebbi (14.73%) and Kaduna (13.91%), while Delta (9.46%),  Kwara (9.01%) and Bayelsa (8.56%) recorded the slowest rise in headline Year on Year inflation. 

On month on month basis however, June 2019 all items inflation was highest in River (2.28%), Lagos (1.72%) and Cross River (1.57%), while Bayelsa (0.42%), Kaduna (0.37%) and sokoto (0.31%) recorded the slowest rise.

 

Food Inflation

In June 2019, food inflation on a year on year basis was highest in Kaduna (17.50%), Kebbi (16.96%) and Ondo (16.44%), while Abia (10.84%), Bayelsa (9.97%) and Kogi (9.81%) recorded the slowest rise. 

On month on month basis however, June 2019 food inflation was highest in Kogi (3.20%),River (2.96%) and Osun (2.58%), while Anambra (0.47%) , Yobe (0.33%) and Kaduna (0.26%) recorded the slowest rise.

 

Click Here to Download June 2019 CPI PDF Report

 

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Latest 2019 NBS Reports

 

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Q3 2019

1.       1.01m Passport Applications Received in 2018 - NBS

2.      FAAC Disburses N616.20bn in May 2019 - NBS

3.      Total Value of Capital Importation into Nigeria Stood at $8,485.49m in Q1 2019

 

Q2 2019

4.      All Commodity Group Export Price Index Rose By 1.85% In Q1 2019

5.      Average Price of 1kg of Rice Increased By 1.07% MoM to N361.39 in May 2019 - NBS

6.      Average Prices of PMS, AGO, HHK and Cooking Gas – May 2019

7.      Headline Inflation Increases By 11.40% YoY in May 2019; 0.03% Higher Than April 2019 Rate

8.     8.57m Workers Are Registered Under The Pension Scheme As At Q1 2019 - NBS

9.      Nigeria’s Merchandise Trade Grew Marginally By 2.50% QoQ in Q1 2019

10.  Banking Sector Records 557.08m Volume of Transactions in Q1 2019 - NBS

11.   723,995 Passengers Travelled Via Rail in Q1 2019 - NBS

12.  NBS Publishes Additional 11 States Nominal GDP From 2013 to 2017

13.  N289.04bn Generated as VAT in Q1 2019 - NBS

14.  4.87bn Litres of PMS Imported in Q1 2019 - NBS

15.   FAAC Disburses N617.57bn in April 2019 - NBS

16.  Average Price of 1kg of Tomato Increased by 7.05% MoM to N257.25 in April 2019 - NBS

17.   Average Fare For Bus Journey Intercity Increased By 0.77% MoM to N1604.36 in April 2019 - NBS

18.  Nigeria’s GDP Grew By 2.01% YoY In Real Terms In Q1 2019

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

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

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

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

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

24. 316,365kg of Drug Seized in 2018 - NBS

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

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

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

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

29. FAAC Disburses N619.86bn in March 2019

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

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

32. 1.65m Applications Received By JAMB in 2018 - NBS

33. FAAC Disburses N660.37bn in February 2019

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

 

Q1 2019

35.  8.41m Workers Are Registered Under The Pension Scheme As At Q42018 - NBS

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

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

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

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

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

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

42. 2,532 Road Traffic Crashes Occurred in Q4 2018 - NBS

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

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

45.  1.67m Customers Metered As At Q4 2018 - NBS

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

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

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

49. FAAC Disburses N649.19bn in January 2019

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

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

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

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

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

55.  828,502 Employees Employed By 1,110 Registered Private Guard Companies in 2018 - NBS

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

57.  NBS Publishes Drug Use in Nigeria 2018 Survey Report

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

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

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

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

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

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

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

 

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