In a recent disclosure by the National Bureau of Statistics (NBS), Kogi, Lagos, and Rivers have been identified as the most expensive states in Nigeria, with the All-Items Inflation rate reaching its peak in these regions. According to the NBS’s latest Consumer Price Index for November, the inflation rates on a year-on-year basis were notably high in Kogi (33.28%), Lagos (32.30%), and Rivers (32.25%) states.
Conversely, Borno (22.47%), Katsina (24.91%), and Plateau (25.53%) recorded the slowest rise in Headline inflation on a Year-on-Year basis. The month-on-month analysis for November 2023 revealed the highest increases in Kano (3.55%), Kebbi (3.34%), and Borno (3.24%), while Taraba (0.74%), Anambra (1.00%), and Enugu (1.18%) experienced the slowest rise in Month-on-Month inflation.
Delving into the food inflation statistics for November 2023, Kogi topped the chart with a Year-on-Year basis of 41.29%, followed by Kwara (40.72%) and Rivers (40.22%). In contrast, Bauchi (26.14%), Borno (27.34%), and Jigawa (27.63%) recorded the slowest rise in food inflation on a Year-on-Year basis.
On a Month-on-Month basis, Cross River (4.37%), Edo (3.95%), and Rivers (3.91%) witnessed the highest food inflation rates in November 2023. Conversely, Anambra (0.63%), Oyo (0.91%), and Bauchi (1.00%) recorded the slowest rise in inflation on a Month-on-Month basis.
DAILY POST reports that Nigeria’s inflation rate surged to 28.20% in November 2023, reflecting the economic challenges faced by the country.
