Bauchi, Ondo emerge states with highest inflation rate

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The National Bureau of Statistics (NBS) has disclosed that Bauchi with 24.79 per cent and Ondo with 24.54 per cent have highest all items inflation rate in Nigeria as of January 2023.

The bureau on Wednesday had revealed that Nigeria’s inflation rose to 21.82per cent compared to 21.34 per centin December 2022.

According to the report, Anambra at 24.51per cent, while Jigawa, 19.09 per cent, Borno 19.62 per cent and Sokoto, 19.90per cent recorded the slowest rise in headline year-on-year inflation in the month under review.  

The report said: “On a month-on-month basis, however, January 2023 recorded the highest increases in Lagos (2.91per cent),

“Taraba (2.84 per cent), Ondo (2.68 per cent), while Yobe (0.54 per cent), Jigawa (0.73 per  cent) and Oyo (0.87 per cent) recorded the slowest rise on month-on-month inflation.”

The report noted that food inflation rate was highest in Kwara State, followed by Lagos State on a year-on-year basis.

The report said: “In January 2023, food inflation on a year-on-year basis was highest in Kwara (29.03 per cent), Lagos (27.67 per cent), and Ondo (27.38 per cent), while Jigawa (19.22 per cent), Sokoto (20.80 per cent) and Yobe (21.32 per cent) recorded the slowest rise in year-on-year food inflation.

“On a month-on-month basis, however, January 2023 food inflation was highest in Lagos (3.67 per cent), Ogun (3.54 per cent),  and Ekiti (3.32 per cent), while Yobe (-0.50 per cent), Jigawa (0.18 per cent) and Kebbi (0.92 per cent) recorded the slowest rise on month-on-month inflation.”

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