Inflation: NBS reveals three most expensive states in Nigeria

Nigeria’s three most costly states are Bauchi, Kogi, and Oyo, which rank highest annually after May 2024’s highest All-Items Inflation.

However, when it comes to monthly costs, Kano, Gombe, and Bauchi are Nigeria’s most expensive states.

This was revealed in the most recent May Consumer Price Index and Inflation data from the National Bureau of Statistics, which was made public on Saturday.

According to the research, in May 2024, Bauchi recorded the highest All-Items inflation rate on a year-over-year basis at 42.30 per cent, followed by Kogi at 39.38 per cent and Oyo at 37.73 per cent.

Conversely, the regions of Borno (25.97%), Benue (27.74%), and Delta (28.67%) experienced the least annual growth in headline inflation.

On the other hand, on a month-to-month basis, May 2024 saw the largest rises in inflation in Kano (4.24 per cent), Gombe (4.06 per cent), and Bauchi (3.75 per cent), Ondo (0.57 per cent), Kwara (1.19 per cent), and Yobe (1.24 per cent) saw the slowest increases in inflation.

Kogi, Ekiti, and Kwara states had the greatest rates of food inflation year over year.

According to NBS, food inflation was 46.32 per cent in Kogi, 44.94 per cent in Ekiti, and 44.66 per cent in Kwara.

On the other hand, the provinces of Borno (34.74 per cent), Bauchi (34.35 per cent), and Adamawa (31.72 per cent) saw the weakest annual increases in food inflation.

However, during the reviewed period, Gombe state (4.88 per cent), Kano (4.68 per cent), and Bayelsa (3.62 per cent) recorded the highest monthly increases in food inflation, while Ondo (0.02 per cent), Yobe (0.95 per cent), and Adamawa (1.02 per cent) had the slowest monthly increases.

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