The National Bureau of Statistics reported earlier in the week that the inflation rate for May was 16.25%. This is the lowest inflation rate since May 2015 signifying to some, that prices of goods and service might be moderating. While some might not agree (Nairametrics inclusive), the data also throws up some interesting data about states.
Lowest inflation rate
According to the NBS data the state with the lowest inflation rate in Nigeria is Kogi State, with inflation rate as low as 5.3%. Interestingly, Benue State which is just right beside it, has an inflation rate of 13.9%. Bayelsa State was the next least state with about 11.7% inflation rate, while Imo, Abia and Lagos State are next with 13.3%, 13.7% and 13.8% respectively.
See chart
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Highest Inflation rate
The data reveals Bauchi State has the highest inflation rate with a whopping 21.9% for the month of May 2017. The state was however 26th in Food Inflation at 17.42% which suggest it’s problem is not the cost of food but other items such as transportation, health, communication and other issues that you can find in core inflation.
Sokoto, Ebonyi, Nasarawa and Plateau state make up the next on the least as depicted in the chart above.
In terms of food inflation, Nasarawa State came tops as the state with the highest food inflation rate (25.19%). Interestingly war ravaged Borno State has an inflation rate of 16.20% and food inflation rate of 17.16%.
See table below;
States Inflation Rate
[wpdatatable id=203 table_view=regular]
Food Inflation Rate
[wpdatatable id=204 table_view=regular]