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Tayo Busayo

 

Daily Courier – Kogi (2.69%), Ondo (2.65%), and Kaduna (2.61%), lead the States with the highest food inflation in Nigeria.

This is according to the National Bureau of Statistics (NBS) CPI June 2022 data, in terms of all items inflation.

The report also reveals that Adamawa (-0.26%), Abuja (-.0.03%) and Sokoto (0.79%) recorded the slowest rise on month-on-month inflation.

The document added “In June 2022, all items inflation on a year-on-year basis was highest in Bauchi (21.99%), Kogi (21.37%), Ebonyi (20.73%) while Adamawa (16.14%), Sokoto (16.31%) and Jigawa (16.37%) recorded the slowest rise in headline Year-on-Year inflation.

“On a month-on-month basis, however, June 2022, recorded the highest increases in Kogi (2.69%), Ondo (2.65%), and Kaduna (2.61%), while Adamawa (-0.26%), Abuja (-.0.03%) and Sokoto (0.79%) recorded the slowest rise on month-on-month inflation.”

On food Inflation, the NBS said “In June 2022, food inflation on a year-on-year basis was highest in Kwara (25.62%), Kogi (24.81%), and River (24.34%), while Jigawa (16.01%), Sokoto (16.24%) and Kaduna (17.75%) recorded the slowest rise

in year-on-year food inflation.”

It however explained that on a month-on-month basis, however, in June 2022 food inflation was highest in Ebonyi (3.52%), Bayelsa (3.27%) and Ondo (3.25%) while Sokoto (0.11%), Taraba (0.94%) and Adamawa (1.22%) recorded the slowest rise on month-on-month inflation.

According to the report, on a month-on-month basis, the core sub-index increased to 1.56 percent in June 2022.

The NBS said this is down by 0.31 percent when compared to 1.87 percent recorded in May 2022.

The highest increases, said the report, were recorded in prices of gas, liquid fuel, solid fuel, garments, passenger transport by road, cleaning, repair and hire of clothing, passenger travel by air.

It also said the average 12-month annual rate of change of the index was 14.06 percent for the twelve-month period ending June 2022; this is 2.31 percent points higher than the 11.75 percent recorded in June 2021.

The report reads in part: “The composite food index rose to 20.60 percent in June 2022 on a year-on-year basis; the rate of changes in average price level declined by 1.23 percent compared to 21.83 percent in June 2021.

“The rate of changes in food prices compared to the same period last year was higher due to higher foods prices volatility caused by COVID 19.

“This rise in the food index was caused by increases in prices of Bread and cereals, Food products n.e.c, Potatoes, yam, and other tubers, Meat, Fish, Oil and fat, and Wine.

“On a month-on-month basis, the food sub-index increased to 2.05 percent in June 2022, up by 0.03 percent points from 2.01 percent recorded in May 2022.

“The average annual rate of change of the Food sub-index for the twelve-month period ending June 2022 over the previous twelve-month average is 18.62 percent, which is 1.10 percent points decline from the average annual rate of change recorded in June 2021 (19.72 percent).”