Monday, July 17, 2017 10:00 AM / NBS
All Item Index
The Consumer Price Index (CPI) which measures inflation increased by 16.10 percent (year-on-year) in June 2017. This was 0.15 percent points lower the rate recorded in May (16.25 percent). Accordingly, this represents the fifth consecutive decline in the rate of inflation since January 2017
On a month-on-month basis, the Headline index increased by 1.58 percent in June 2017, 0.30 percent points higher lower the rate of 1.88 percent recorded in May 2017. Month on Month inflation has cumulatively risen by 9.28% since January 2017
The percentage change in the average composite CPI for the twelve-month period ending in May2017 over the average of the CPI for the previous twelve-month period was 17.58 percent, lower from 17.63 percent recorded in May 2017.
The Food Index increased by 19.91percent (year-on-year) in June 2017, down by 0.64 percent points from the rate recorded in May (19.27 percent) indicating continued pressure in food prices.
Price movements recorded by All Items less farm produce or Core sub-index rose by 12.50 percent (year-on-year) in June, down by 0.50 percent points from rate recorded in May (13.00) percent. This represents the 8th straight month of decline in the core index since November 2016
The Urban index rose by 16.15 percent (year-on-year) in June 2017 from 16.34 percent recorded in May, while the Rural index increased by 16.01 percent in June from 16.02 percent in May.
On month-on-month basis, the urban index rose by 1.60 percent in June from 1.84 percent recorded in May, while the rural index rose by 1.57 percent in June from 1.92 percent in May.
The corresponding twelve-month year-on-year average percentage change for the urban index increased from 18.88 percent in June to 18.69 percent in May, while the corresponding rural index also increased from 16.50 percent in May to 16.56 percent in June.
Click Here to Download June 2017 CPI (PDF) Report
The Composite Food Index rose by 19.91 percent in June 2017. The rise in the index was caused by increases in prices of meat, bread and cereals, fish, potatoes, yam and other tubers, oils and fats, milk, cheese and eggs, coffee, tea and cocoa.
On a month-on-month basis, the Food sub-index increased by 1.99 percent in June, up by 0.64 percent points from 2.54 percent recorded in May.
The average annual rate of change of the Food sub-index for the twelve-month period ending in June 2017 over the previous twelve-month average was 17.87 percent, 0.39 percent points from the average annual rate of change recorded in May (17.48) percent.
All Items Less Farm Produce (Core) Index
The ‘’All Items Less Farm Produce’’ or Core sub-index, which excludes the prices of volatile agricultural produce eased by 0.50 percent during the month of June to 12.50 percent points from 13.00 percent recorded in May as all key divisions which contributes to the index increased but at a decreasing rate.
On a month-on-month basis, the Core sub-index increased by 1.32 percent in June, 0.15 percent points higher than the 1.17 percent recorded in May.
The highest increases were recorded in prices solid fuels, clothing materials and other articles of clothing and clothing accessories, liquid fuels, spirits, books and stationeries, passenger transport by air, garments, shoes and footwear and motorcycles.
The average 12-month annual rate of rise of the index was recorded at 16.22 percent for the twelve-month period ending in June 2017, 0.35 percent points lower from the twelve-month rate of change recorded in May.
Latest 2017 NBS Reports
1. FAAC Disburses N418.82bn in May 2017 - NBS
2. GDP By Income and Expenditure Approach – Basic Price GDP Declines by 2.3% in Q3’16 - NBS
3. Average Price Watch of PMS, AGO, HHK and Cooking Gas - May 2017
4. Average Intercity Transport Fare Decreases to N1,5865. in May’17 from N1,587.04 in Apr’17
5. Average Price Of 1kg Of Yam Tuber Increased YoY by 52.69% in May 2017 - NBS
6. CPI Drops to 16.25% in May 2017, 0.99% Lower Than 17.24% April Rate
7. N204.77bn Generated as VAT in Q1 2017 - NBS
8. 125,790 Cases of Reported Offences Recorded in 2016 - NBS
9. Labour Productivity Rose to N684.43 in 2016 - NBS
10. Merchandise Trade Grew By 0.1% - Positive Trade Balance Due to Rising Exports & Falling Imports
11. Unemployment Rate Rises to 14.2% in Q4’16 from 13.9% in Q3’16 - NBS
12. Lagos Airport Accounted for 76.5% of International Passengers in Q1 2017 - NBS
13. FAAC Disburses N496.39bn in April 2017 - NBS
14. Banking Sector Records 304.31 mln Volume of Transaction in Q1 2017 - NBS
15. Total Value of Capital Imported into Nigeria in Q1 2017 Estimated at $908.27m - NBS
16. GDP Contracts by -0.52% in Q1’17 from -1.73% in Q4’16; 5th Consecutive Quarter of Contraction
17. Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch – April 2017
18. Average Intercity Transport Fare Increases to N1,587.04 in Apr’17 from N1,466.46 in Mar’17
19. Average Prices of 1kg of Yam Tubber Increased by 42.45% YoY in April 2017
20. CPI Drops to 17.24% in April 2017, 0.02% Lower Than 17.26% March Rate
21. Lagos, Rivers Top IGR for Full Year 2016
22. Telecoms Subscribers Dropped by 1.33% in Q1 2017 - NBS
23. Nigeria Imports 4.05bn Litres of PMS in Q1 2017 - NBS
24. Lagos State has the highest domestic and foreign debt profile in 2016 - NBS
25. 2,556 Road Traffic Crashes Recorded in Q1 2017 - NBS
26. FAAC Disburses N466.93bn in March 2017
27. Daily Energy Generation Attained a Peak of 5,846 MW in Q1 2017 - NBS
28. Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch - March 2017
29. Average Intercity Transport Fare Increases to N1,466.46 in Mar’17 from N1,411.87 in Feb’17
30. Average Prices of 1kg of Yam Tubber Increased by 63.4% YoY in March 2017
31. CPI Drops to 17.26% in March 2017, 0.52% Lower Than 17.78% February Rate
32. 7.49m Nigerians Are Registered Under the National Pension Scheme As At Q1 2017 - NBS
33. Lagos Airport Accounted for 69.1% of International Passengers in 2016 - NBS
34. 11,363 Road Traffic Crashes Recorded in 2016 - NBS
35. FAAC Disburses N514.15bn in February 2017
36. FAAC Disburses N430.16bn in January 2017
37. Average Intercity Transport Fare Decreases to N1,411.87 in Feb’17 from N1430.63 in Jan’17
38. Average Price of 1kg of Rice Increased by 68% YoY in February 2017
39. Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch - February 2017
40. CPI Drops to 17.78% in February 2017, 0.94% Lower Than 18.72% January Rate
41. Nigeria Produced 43.49m Tons of Solid Minerals in 2016 - NBS
42. NIPOST Generates N8.84bn Revenue in 2016 - NBS
43. Q4 2016 Merchandise Trade Intensity - Total Trade Grows by 6.5% in 2016
44. Merchandise Trade Grows in Q4 2016 - Records First Quarterly Positive Trade Balance Since Q4 2015
45. GDP Contracts by -1.30% in Q4 and -1.51% for Full Year 2016; Is Nigeria on Its Way Out of Recession?
46. JAMB Received 11.7m Applications Between 2010 and 2016
47. Average Kerosene Price Increases to N433.84 in Jan'17 from N231.85 in Dec'16
48. Average Intracity Transport Fare Increases to N122 in Jan'17 from N84.29 in Dec'16
49. Average Cooking Gas Price Increases to N2,567.56 in Jan’17 from N2,002.16 in Dec’16
50. Average Diesel Price Increases to N240.52 in Jan’17 from N196.20 in Dec’16
51. Average Petrol Price Increases to N148.7 in Jan'17 from N146.7 in Dec'16
52. CPI Rises to 18.72% in January 2017, 0.17% Higher Than 18.55% December 2016 Rate
53. GENCOs Issued Total Invoice of N331bn to DISCOs in 2016
54. Nigeria Produced 5.79 mln Tonnes of Fish Between 2010 and 2015
55. 4,296 Applications Were Received by NAFDAC for New Products Registration in 2016 - NBS
56. 19,833 Vessels Berthed At Nigerian Ports Between 2013 and 2016 - NBS
57. Total Value of Capital Imported into Nigeria in Q4 2016 Estimated at $1,548.88mln - NBS
58. Telecoms Sector Contributes N1,399bn to GDP in Q3 2016 - NBS
59. FAAC Disburses N426.88bn in December 2016 - NBS
60. Banking Sector Records 910.18m Volume of Transaction in 2016 on Electronic Payment Channels - NBS
61. Daily Energy Generation Attained a Peak of 3,859.59MW in Q4 2016 - NBS
62. 10.8% of Nigeria's Total Working Population Are Registered Under The National Pension Scheme - NBS
63. Nigeria Imports 4.83 bn Litres of PMS in Q4 2016 - NBS
64. 72.53% of Nigeria’s Prison Population in 2015 were Un-sentenced - NBS
65. Lagos, Ogun Top IGR for H1 2016