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All Item Index

Theconsumer price index, (CPI) which measures inflation increased by 12.34 percent(year-on-year) in April 2020. This is 0.08 percent points higher than the raterecorded in March 2020 (12.26 percent).

Increaseswere recorded in all COICOP divisions that yielded the Headline index.

Onmonth-on-month basis, the Headline index increased by 1.02 percent in April2020. This is 0.18 percent rate higher than the rate recorded in March 2020(0.84 percent).

Thepercentage change in the average composite CPI for the twelve months periodending April 2020 over the average of the CPI for the previous twelve monthsperiod was 11.71 percent, showing 0.09 percent point rise from 11.62 percentrecorded in March 2020.

Theurban inflation rate increased by 13.01 percent (year-on-year) in April 2020from 12.93 percent recorded in March 2020, while the rural inflation rateincreased by 11.73 percent in April 2020 from 11.64 percent in March 2020.

Ona month-on-month basis, the urban index rose by 1.06 percent in April 2020, upby 0.18 from 0.88 percent recorded in March 2020, while the rural index also roseby 0.98  percent in April 2020, up by 0.18 from the rate recorded in March2020 (0.80) percent.

Thecorresponding twelve-month year-on-year average percentage change for the urbanindex is 12.26 percent in April 2020. This is higher than 12.15 percentreported in March 2020, while the corresponding rural inflation rate in April2020 is 11.20 percent compared to 11.14 percent recorded in March 2020. 

Food Index

Thecomposite food index rose by 15.03 percent in April 2020 compared to 14.98percent in March 2020.

Thisrise in the food index was caused by increases in prices of Potatoes, Yam andother tubers, Bread and cereals, Fish, Oils and fats, Meat, Fruits andVegetables.

Onmonth-on-month basis, the food sub-index increased by 1.18 percent in April2020, up by 0.24 percent points from 0.94 percent recorded in March 2020. 

Theaverage annual rate of change of the Food sub-index for the twelve-month periodending April 2020 over the previous twelve-month average was 14.22 percent, 0.11  percent points from the average annual rate of changerecorded in March 2020 (14.11) percent.

All Items Less Farm Produce

The "All items less farm produce" or Core inflation, which excludes the prices ofvolatile agricultural produce stood at 9.98 percent in April 2020, up by 0.25percent when compared with 9.73 percent recorded in March 2020.

Onmonth-on-month basis, the core sub-index increased by 0.93 percent in April2020. This was up by 0.13 percent when compared with 0.80 percent recorded inMarch 2020.

Thehighest increases were recorded in prices of Bicycles, Passenger transport byroad, Passenger transport by sea and inland waterways, Paramedical services,Hospital services, pharmaceutical products, Medical services, Motor cyclesand  Major household appliances whether electric or not.

Theaverage 12-month annual rate of change of the index was 9.17 percent for thetwelve-month period ending April 2020. This is 0.06 percent points higher than9.11 percent recorded in March 2020.

State Profiles

Inanalysing price movements under this section, note that the CPI is weighted byconsumption expenditure patterns which differ across states. Accordingly, theweight assigned to a particular food or non-food item may differ from state tostate making interstate comparisons of consumption basket inadvisable andpotentially misleading.  

AllItems Inflation

InApril 2020, all items inflation on year on year basis was highest inBauchi  (14.44%), Sokoto (13.99%) and Plateau (13.68%), while Edo(10.87%), Abuja (10.81%) and Kwara (8.98%) recorded the slowest rise inheadline Year on Year inflation.

Onmonth on month basis however, April 2020 all items inflation was highest inAkwa Ibom (2.01%), Oyo (1.91%) and Abia (1.81%), while Edo, Enugu andBayelsa  recorded price deflation or negative inflation (general decreasein the general price level or negative inflation rate).

FoodInflation

InApril 2020, food inflation on a year on year basis was highest in Sokoto(17.88%), Akwa Ibom (17.55%) and Abuja (17.65%), while Ebonyi (13.04%),Edo  (12.90%) and Enugu (12.89%) recorded the slowest rise.

Onmonth on month basis however, April 2020 food inflation was highest in AkwaIbom (2.65%), Lagos (2.49%) and Oyo (2.33%), while Bayelsa, Ebonyi and Enugurecorded price deflation or negative inflation (general decrease in the generalprice level of food or a negative food inflation rate).

Click Here to Download April2020 CPI PDF Report

Latest2020 NBS Reports

Q2 2020

1. 20.89bn Litres of PMS Imported Into Nigeria in 2019 - NBS
2. N338.94bn Generated As VAT in Q1 2020 - NBS
3. Total Household Expenditure on Food and Non-food Was Put At N40.21bn in 2019 - NBS
4. Poverty and Inequality in Nigeria 2019: 40% of Total Population Classified as Poor
5. GDP By Income and Expenditure Approach Q4 2019 - Household Final Consumption Declined by -2.40%
6. Average Price of 1kg of Rice Increased By 21% YoY to N438.66 In March 2020
7. Average Transport Fare Paid By Commuters Within City Increased By 1.89% MoM in March 2020
8. Average Prices of PMS, AGO, HHK and Cooking Gas - March 2020
9. Headline Inflation Increases By 12.26% YoY In March 2020; 0.06% Higher Than February 2020 Rate
10. Nigeria's Total Public Debt Stood At N27.40trn in Q4 2019 - NBS
11. FAAC Disburses N647.35bn in February 2020 - NBS

Q1 2020

1. Banking Sector Records 893.68m Volume of Transaction in Q4 2019 - NBS
2. Active Voice Subscription Grew By 3.08% in Q4 2019 - NBS
3. All Commodity Group Import Index Fell by 3.27% Due Mainly to Declines in the Prices of Goods
4. Average Prices of 1kg of Tomato Decreased By -10.65% YoY to N237.22 in Jan 2020 - NBS
5. Average Fare Paid By Commuters For Bus Journey Intercity Increased By 0.91% MoM in February 2020
6. Average Prices Of PMS, AGO, HHK and Cooking Gas - February 2020
7. Headline Inflation Increases By 12.20% YoY In February 2020; 0.07% Higher Than January 2020 Rate
8. FAAC Disburses N716.30bn in January 2020 - NBS
9. FAAC Disburses N2.93trn to FG in 2019 - NBS
10. Total Value of Capital Imported in Q4 2019 Stood At $3,802.38m - NBS
11. FAAC Disburses N650.83bn in December 2019 - NBS
12. Nigeria's Merchandise Trade Grew in Q4 2019; Imports Rose Faster Exceeding Falling Exports
13. Nigeria's GDP Grew By 2.55% in Real Terms in Q4 2019 and 2.27% in Full Year 2019
14. Average Prices of 1kg of Tomato Decreased By -10.65% YoY to N237.22 in Jan 2020 - NBS
15. Average Prices Of PMS, AGO, HHK and Cooking Gas - January 2020
16. Headline Inflation Increases By 12.13% YoY In January 2020; 0.15% Higher Than December 2019 Rate
17. N293.80bn Generated as IGR in Q3 2019 - NBS
18. Nigeria's Total Public Debt Stood At N26.14trn in Q3 2019 - NBS
19. Average Intercity Fare Increases By 1.43% MoM To N1, 666.57 In December 2019
20. Average Price of 1kg of Tomato Decrease YoY by -2.80% To N263.90 In December 2019
21. All Commodity Group Index Grew By 2.48% in Q3 2019
22. Average Prices Of PMS, AGO, HHK and Cooking Gas - December 2019
23. Headline Inflation Increases By 11.98% YoY In December 2019; 0.13% Higher Than November 2019 Rate