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All Item Index

The consumer price index, (CPI) which measures inflation increased by 11.98 percent (year-on-year) in December 2019. This is 0.13 percent points higher than the rate recorded in November 2019 (11.85) percent. 

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

On month-on-month basis, the Headline index increased by 0.85 percent in December 2019, this is 0.17 percent rate lower than the rate recorded in November 2019 (1.02) percent.

The percentage change in the average composite CPI for the twelve months period ending December 2019 over the average of the CPI for the previous twelve months period was 11.40 percent, showing 0.05 percent point from 11.35 percent recorded in November 2019.

The urban inflation rate increased by 12.62 percent (year-on-year) in December 2019 from 12.47 percent recorded in November 2019, while the rural inflation rate increased by 11.41 percent in December 2019 from 11.30 percent in November 2019.

On a month-on-month basis, the urban index rose by 0.90 percent in December 2019, down by 0.17 from 1.07 percent recorded in November 2019, while the rural index also rose by 0.82  percent in December 2019, down by 0.16 from the rate recorded in November 2019 (0.98) percent.

The corresponding twelve-month year-on-year average percentage change for the urban index is 11.83 percent in December 2019. This is higher than 11.75 percent reported in November 2019, while the corresponding rural inflation rate in December 2019 is 11.00 percent compared to 10.98 percent recorded in November 2019.

Food Index

The composite food index rose by 14.67 percent in December 2019 compared to 14.48 percent in November 2019.

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

On month-on-month basis, the food sub-index increased by 0.97 percent in December 2019, down by 0.28 percent points from 1.25 percent recorded in November 2019. 

The average annual rate of change of the Food sub-index for the twelve-month period ending December 2019 over the previous twelve-month average was 13.74 percent, 0.09  percent points from the average annual rate of change recorded in November 2019 (13.65) percent.

All Items Less Farm Produce

The "All items less farm produce" or Core inflation, which excludes the prices of volatile agricultural produce stood at 9.33  percent in December 2019, up by 0.34 percent when compared with 8.99 percent recorded in November 2019.

On month-on-month basis, the core sub-index increased by 0.81 percent in December 2019. This was up by 0.02 percent when compared with 0.79 percent recorded in November 2019.

The highest increases were recorded in prices of Hospital services, Hairdressing saloons and personal grooming establishment, Garments, Repair and hire of footwear, Vehicle spare parts, Passenger transport by air, Shoes and other footwear, Appliances, articles and products for personal care, Clothing materials, other articles of clothing and clothing accessories and Cleaning, Repair and hire of clothing,

The average 12-month annual rate of change of the index was 9.15 percent for the twelve-month period ending December 2019; this is 0.04 percent points lower than 9.19 percent recorded in November 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 December 2019, all items inflation on year on year basis was highest in Bauchi (15.14%), Kebbi (14.43%) and Plateau (14.34%), while Katsina (10.68%), Kwara (9.93%) and Abuja (9.77%) recorded the slowest rise in headline Year on Year inflation.

On month on month basis however, December 2019 all items inflation was highest in Kogi (2.42%), Bauchi (1.98%) and Kaduna (1.81%), while Kwara (0.19%) and Delta (0.08%) recorded the slowest rise on month on month inflation with Edo recording price deflation or negative inflation (general decrease in the general price level or negative inflation rate).

Food Inflation

In December 2019, food inflation on a year on year basis was highest in Sokoto (17.75%), Ogun (17.37%) and Plateau (16.75%), while Bayelsa (13.26%), Delta(12.72%) and Bauchi (12.19%) recorded the slowest rise.

On month on month basis however, December 2019 food inflation was highest in Kogi (2.82%), Kaduna (2.63%) and Abia(2.21%), while Delta, Edo, Imo and Kwara recorded price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate).

Click Here to DownloadDecember 2019 CPI PDF Report

Latest 2019 NBS Reports

Q4 2019

1. 4.48m Passengers Passed Through Nigerian Airports in Q2 2019 - NBS
2. FAAC Disburses N702.02bn in November 2019 - NBS
3. Active Voice Subscribers Grew By 2.96% QoQ in Q3 2019 - NBS
4. Average Price of 1kg of Rice Increased By 16.44% MoM In November 2019
5. Average Fare For Intercity Bus Journey Increased By 0.37% MoM In November 2019
6. Average Prices Of PMS, AGO, HHK and Cooking Gas - November 2019
7. Headline Inflation Increases By 11.85% YoY In November 2019; 0.24% Higher Than October 2019 Rate
8. Nigeria's Merchandise Trade Grew In Q3 2019 With Higher Exports And Lower Imports
9. NBS Publishes 2019 Corruption in Nigeria Survey Report
10. NBS Publishes 2019 General Household Panel Survey Report
11. Banking Sector Records 800.21m Volume Of Transaction In Q3 2019 - NBS
12. N275.12bn Generated As VAT In Q3 2019 - NBS
13. Pension Fund Asset Under Management Stood At N9.58trn As At Q3 2019 - NBS
14. Total Value Of Capital Imported Into Nigeria In Q3 2019 Stood At $5,367.56m
15. Nigeria's GDP Grew By 2.28% YoY In Real Terms In Q3 2019
16. Average Price of 1kg of Rice Increased By 2.55% YoY to N382.57 in October 2019 - NBS
17. Average Fare For Intercity Journey Increased By 0.59% To N1,636.86 MoM in October 2019 - NBS
18. Average Prices Of PMS, AGO, HHK and Cooking Gas - October 2019
19. Headline Inflation Increases By 11.61% YoY In October 2019; 0.36% Higher Than September 2019 Rate
20. 5.09bn Litres of PMS Imported Into Nigeria in Q3 2019 - NBS
21. FAAC Disburses N693.52bn in October 2019 - NBS
22. FAAC Disburses N740.87bn in September 2019 - NBS
23. Nigeria's Total Public Debt Stood At N25.70trn in Q2 2019 - NBS
24. Average Price of 1kg of Rice Increased By 4.07% MoM to N371.13 in September 2019 - NBS
25. Average Fare For Intercity Journey Increased By 0.15% MoM in September 2019 - NBS
26. Average Prices Of PMS, AGO, HHK and Cooking Gas - September 2019
27. GDP By Income and Expenditure Approach Q1 2019 - Household Final Consumption Exp. Grew by 1.41%
28. Headline Inflation Increases By 11.24% YoY In September 2019; 0.22% Higher Than August 2019 Rate
29. N691.11bn Generated As IGR in H1 2019
30. All Products Terms Of Trade Index Increased By 1.27% in Q2 2019

Q3 2019

31. Banking Sector Records 711.29m Volume Of Transactions in Q2 2019 - NBS
32. FAAC Disburses N769.53bn in August 2019 - NBS
33. 1.57m Candidates Sat For WAEC In Public Schools in 2018 - NBS
34. Average Price Of 1kg of Rice Increases By 0.14% MoM To N356.61 In August 2019
35. Average Fare Paid For Intercity Journey Increases By 0.35% MoM To N1,624.76 In August 2019
36. Average Prices Of PMS, AGO, HHK and Cooking Gas - August 2019
37. Headline Inflation Increases By 11.02% YoY In August 2019; 0.06% Lower Than July 2019 Rate
38. Merchandise Trade Increased Significantly YoY But Marginally Over Q1 2019, Driven By Higher Imports
39. Active Voice Subscribers Grew By 0.18% In Q2 2019 - NBS
40. Total Value Of Capital Importation Stood At $5,820.21m In Q2 2019 - NBS
41. Nigeria's GDP Grew By 1.94% YoY In Real Terms In Q2 2019 - NBS
42. FAAC Disburses N762.6bn in July 2019 - NBS
43. FAAC Disburses N679.7bn in June 2019 - NBS
44. N311.94bn Generated As VAT in Q2 2019 - NBS
45. Average Fare Paid By Commuters For Intercity Journey Increased By 0.76% MoM in July 2019
46. Average Prices of 1kg of Tomato Decreased YoY By -39.74% to N203.55 in July 2019 - NBS
47. Average Prices of PMS, AGO, HHK and Cooking Gas – July 2019
48. Headline Inflation Increases By 11.08% YoY in July 2019; 0.14% Lower Than June 2019 Rate
49. 5.61bn Litres of PMS Imported into Nigeria in Q2 2019 - NBS
50. Average Fare Paid For Bus Journey Inter City Increased By 0.17% MoM to N1,606.92 in June 2019 - NBS
51. Average Price of 1kg of Tomatoes Decreased By -9.40% MoM to N226.07 in June 2019 - NBS
52. Nigeria's Total Public Debt Stood At N24.97trn in Q1 2019 - NBS
53. Average Prices of PMS, AGO, HHK and Cooking Gas – June 2019
54. Headline Inflation Increases By 11.22% YoY in June 2019; 0.18% Lower Than May 2019 Rate
55. 1.01m Passport Applications Received in 2018 - NBS
56. FAAC Disburses N616.20bn in May 2019 - NBS
57. Total Value of Capital Importation into Nigeria Stood at $8,485.49m in Q1 2019

Q2 2019

58. All Commodity Group Export Price Index Rose By 1.85% In Q1 2019
59. Average Price of 1kg of Rice Increased By 1.07% MoM to N361.39 in May 2019 - NBS
60. Average Prices of PMS, AGO, HHK and Cooking Gas – May 2019
61. Headline Inflation Increases By 11.40% YoY in May 2019; 0.03% Higher Than April 2019 Rate
62. 8.57m Workers Are Registered Under The Pension Scheme As At Q1 2019 - NBS
63. Nigeria's Merchandise Trade Grew Marginally By 2.50% QoQ in Q1 2019
64. Banking Sector Records 557.08m Volume of Transactions in Q1 2019 - NBS
65. 723,995 Passengers Travelled Via Rail in Q1 2019 - NBS
66. NBS Publishes Additional 11 States Nominal GDP From 2013 to 2017
67. N289.04bn Generated as VAT in Q1 2019 - NBS
68. 4.87bn Litres of PMS Imported in Q1 2019 - NBS
69. FAAC Disburses N617.57bn in April 2019 - NBS
70. Average Price of 1kg of Tomato Increased by 7.05% MoM to N257.25 in April 2019 - NBS
71. Average Fare For Bus Journey Intercity Increased By 0.77% MoM to N1604.36 in April 2019 - NBS
72. Nigeria's GDP Grew By 2.01% YoY In Real Terms In Q1 2019
73. Headline Inflation Increases By 11.37% YoY in April 2019; 0.12% Higher Than March 2019 Rate
74. Average Prices of PMS, AGO, HHK and Cooking Gas – April 2019
75. N3.42m Students Enrolled in Public Senior Secondary School in 2017 - NBS
76. N324.59bn Generated as IGR in Q4 2018 - NBS
77. Akwa Ibom State Reports Highest Unemployment Rate of 37.7% in Q3 2018 - NBS
78. 316,365kg of Drug Seized in 2018 - NBS
79. Average Price of 1kg of Tomato Decreased By 6.32% MoM to N240.29 in March 2019 - NBS
80. Average Fare Paid By Commuters Intercity Increased By 2.85% MoM to N1,592.07 in March 2019 - NBS
81. Headline Inflation Increases By 11.25% YoY in March 2019; 0.06% Lower Than February 2019 Rate
82. Average Prices of PMS, AGO, HHK and Cooking Gas – March 2019
83. FAAC Disburses N619.86bn in March 2019
84. Domestic Passenger Traffic Grew By 23.19% YoY in 2018 - NBS
85. Lagos State Has The Highest Debt Profile in 2018 - NBS
86. 1.65m Applications Received By JAMB in 2018 - NBS
87. FAAC Disburses N660.37bn in February 2019
88. Nigeria Produced 55.81m Tonnes of Solid Minerals in 2018 - NBS

Q1 2019

89. 8.41m Workers Are Registered Under The Pension Scheme As At Q42018 - NBS
90. Average Price of 1kg of Yam Tuber Decreased By -2.24% MoM to N206.48 in February 2019 - NBS
91. All Region Terms of Trade Fell -2.78% Due to a Fall in the Prices of Goods Traded in Africa - NBS
92. Average Fare Paid By Commuters Within City Increased By 1.43% MoM to N177.57 in February 2019 - NBS
93. Headline Inflation Increases By 11.31% YoY in February 2019; 0.06% Lower Than January 2019 Rate
94. Average Prices of PMS, AGO, HHK and Cooking Gas – February 2019
95. Active Voice Subscribers Grew By 6.66% in Q4 2018 - NBS
96. 2,532 Road Traffic Crashes Occurred in Q4 2018 - NBS
97. Total Trade Declined By 5.1% QoQ in Q4 2018; Rose By 42.9% YoY
98. GDP By Income and Expenditure Approach Q1 and Q2 2018 - Household Final Consumption Grew by 0.78%
99. 1.67m Customers Metered As At Q4 2018 - NBS
100. N298.01bn Generated as VAT in Q4 2018 - NBS
101. Total Value of Credit Allocated By Banks Stood At N15.13trn As At Q4 2018 - NBS
102. Average Price of 1kg of Tomato Decreased By 2.39% YoY To N265.49 in January 2019 - NBS
103. FAAC Disburses N649.19bn in January 2019
104. Average Intercity Bus Fare Decreased By -13.90% MoM To N1,541.38 in January 2019
105. Headline Inflation Increases By 11.37% YoY in January 2019; 0.07% Lower Than December 2018 Rate
106. Average Prices of PMS, AGO, HHK and Cooking Gas – January 2019
107. Total Value of Capital Importation into Nigeria Stood at $16,812.47m in 2018 – NBS
108. Nigeria's GDP Grew By 2.38% YoY in Real Terms in Q4 2018 and 1.93% in Full Year
109. 828,502 Employees Employed By 1,110 Registered Private Guard Companies in 2018 - NBS
110. States Generate N264.38bn as IGR in Q3 2018 - NBS
111. NBS Publishes Drug Use in Nigeria 2018 Survey Report
112. FAAC Disburses N3.19trn To FG in 2018 - NBS
113. FAAC Disburses N2.38trn To FG in 2017 - NBS
114. FAAC Disburses N812.76bn in December 2018 - NBS
115. Average Price of 1kg of Tomato Decreased By -7.76% MoM To N294.36
116. Average Within City Bus Journey Fare Decreased By -5.64% MoM To N181.61
117. Headline Inflation Increases By 11.44% YoY in December 2018; 0.16% Higher Than November 2018 Rate
118. Average Prices of PMS, AGO, HHK and Cooking Gas – December 2018