FSDH Merchant Bank Ltd, Inflation rate, private sector loans, NBS

Figures from the National Bureau of Statistics (NBS) Consumer Price Index (CPI) report show Nigeria’s inflation rose by 11.28% year on year in November 2018. This is 0.02% higher than the 11.26% recorded in October 2018.

Here are highlights of the report

States with the highest year on year increase 

Rivers state had the highest  increase in all items inflation on a year on year basis for the month of November at 13.09%. Taraba state was next with a 12.99% increase year on year. Ekiti state takes third place with a 12.70% increase year on year.

States with the slowest year on year increase

Cross River had the slowest rise in all items inflation year on year, up by 8.72%. Next was Kwara which rose by 8.74% year on year. Ogun state rounds up the top three with a 9.52% increase year on year.

Food inflation

Edo state had the highest increase year on year in food inflation, at 16.52%. Imo state was next with 15.40% year on year increase. Bayelsa state rounds up the top three with a 15.36% increase year on year.

On the flip side, Oyo state had the slowest year on year increase at 10.84%, Abia was next at 11.24% and Kogi state third place at 11.50%.

 

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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