NBS: Nigerian annual inflation at 12.34 percent in April

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Annual inflation in Nigeria stood at 12.34% in April, compared with 12.26% in March , the National Bureau of Statistics said on Thursday.

A composite food price index showed inflation at 15.03% in April, compared with 14.98% in March.

This rise in the food index was caused by increases in prices of potatoes, yam and other tubers, bread and cereals, fish, oils and fats, meat, fruits and vegetables.

Inflation in States

In April 2020, all-item inflation on a year-on-year basis was highest in Bauchi, Sokoto, and Plateau while Edo, Abuja, and Kwara recorded the slowest rise.

For food inflation, Sokoto, Akwa Ibom and Abuja recorded the highest while Ebonyi, Edo, and Enugu recorded the slowest rice.

“On month on month basis however, April 2020 food inflation was highest in Akwa Ibom, Lagos and Oyo , while Bayelsa, Ebonyi and Enugu recorded price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate),” the NBS said.

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