Food cheapest in Rivers, Ogun in April — NBS

Prices of food items rose the most in Kebbi, Ekiti and Kano in April, the consumer price index (CPI) report released on Monday by the National Bureau of Statistics (NBS) has shown.

The report revealed that on a month-on-month basis, food price inflation was highest in Kebbi at 2.46 per cent, Ekiti at 2.42 per cent, and Kano at 2.17 per cent.

While Abuja at 0.05 per cent recorded the slowest rise in month-on-month food inflation, Rivers and Ogun recorded price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate).

The report said the food inflation on a year-on-year basis was highest in Kogi at 30.52 per cent, Ebonyi at 28.07 per cent and Sokoto at 26.90 per cent, while Abuja at 18.63 per cent, Akwa Ibom at 18.51 per cent and Bauchi at 17.64 per cent recorded the slowest rise in year on year inflation.

According to the report, the composite food index increased by 22.72 per cent in April compared to 22.95 per cent in March 2021.

It said the rise in the food index was caused by increases in prices of coffee, tea and cocoa, bread and cereals, soft drinks, milk, cheese and eggs, vegetable, meat, oils and fats, fish and potatoes yam, and other tubers.

On month-on-month basis, the food sub-index increased by 0.99 per cent in April 2021 down by 0.91 per cent points from 1.90 per cent recorded in March 2021.

“The average annual rate change of the Food sub-index for the twelve months ending April 2021 over the previous twelve-month average was 18.58 per cent, 0.65 per cent points from the average annual rate of change recorded in March 2021 at 17.93 per cent,” the report said.

All item inflation

The report said in April, annual all items inflation was highest in Kogi at 24.33 per cent, Bauchi at 22.93 per cent and Sokoto at 20.96 per cent, while Abia at 15.94 per cent, Kwara at 15.70 per cent and Katsina at 15.58 per cent recorded the slowest rise in headline year on year inflation.

However, month on month, all items inflation was highest in Kebbi at 2.24 per cent, Cross River at 1.99 per cent and Jigawa at 1.78 per cent, while Ebonyi at 0.12 per cent recorded the slowest rise in headline month on month River and Ogun recording price deflation or negative inflation.

Less farm produce

The report said all items less farm produce or core inflation which excludes the prices of volatile agricultural produce stood at 12.74 per cent in April up by 0.07 per cent when compared with 12.67 per cent recorded in March 2021.

“On month on month basis the core sub-index increased by 0.99 per cent in April.

“This was down by 0.07 per cent when compared with 1.06 per cent recorded in March 2021.

” The highest increases were recorded in prices of pharmaceutical products, vehicle spare parts, hairdressing salons and other personal grooming establishment, garments, furniture and furnishing, medical services, shoes and other footwear, motor cars, major household appliances whether electric or not, dental ser, hospital services, none durable household goods and fuel and lubricants for personal transport equipment.”