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Food prices highest in Rivers, Niger, Gombe in March-NBS

Prices of food items rose the most in Rivers, Niger and Gombe States in March, the consumer price index (CPI) report released on Thursday by the National Bureau of Statistics (NBS) has revealed.

The report showed that on a month on month basis, food price inflation was highest in Rivers at 3.52 per cent, Niger at 2.92 per cent and Gombe at 2.85 per cent.

While Zamfara at 0.51 per cent recorded the slowest rise in month on month food inflation, Yobe and Kebbi 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 29.71 per cent, Sokoto at 27.02 per cent and Ebonyi at 26.59 per cent, while Abuja at 20.10 per cent, Kebbi at 19.98 per cent and Bauchi at 18.61 per cent recorded the slowest rise in year on year inflation.

According to the report, the headline index increased by 1.56 per cent in March.

“This is 0.02 percentage points higher than the rate recorded in February at 1.54 per cent,” the report said.

“The percentage change in the average composite CPI for the twelve months ending March 2021, over the average of the CPI for the previous twelve months period, was 14.55 per cent, representing a 0.50 per cent point increase over 14.05 per cent recorded in February 2021.”

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

On a month on month basis, the food sub-index increased by 1.90 per cent in March up by 0.01 per cent points from 1.89 per cent recorded in February.

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“The average annual rate of change of the Food sub-index for the twelve months ending March 2021 over the previous twelve-month averages was 17.93 per cent, 0.68 per cent points from the average annual rate of change recorded in February at 17.25 per cent,” it said.

All item inflation

The report said in March, all items inflation on year on year basis was highest in Kogi at 24.51 per cent, Bauchi at 22.24 per cent and Sokoto at 20.70 per cent, while Imo at 16.08 per cent, Kwara at 15.34 per cent and Cross River at 14.45 per cent recorded the slowest rise in headlines year on year inflation.

However, on the month on month, all items inflation was highest in Rivers at 2.62 per cent, Gombe at 2.14 per cent and Niger at 2.12 per cent, while Zamfara at 0.60 per cent, Yobe at 0.26 per cent and Kebbi at 0.45 per cent recorded the slowest rise in headlines month on month.

According to the report, the highest increase were recorded prices of passengers transport by air, medical services, miscellaneous services relating to the dwelling, passengers transport by road, hospital services, pharmaceutical products, paramedical services, vehicles spare parts, dental services, motor cars, maintenance and repair of personal transport equipment and hairdressing salons and personal grooming establishment.

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