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CONSUMER PRICE INDEX
Using data from the NBS on inflation rates, here is an analysis of the ten most expensive states in Nigeria in December 2024
As Nigerians celebrate the festive season, surging inflation rates have significantly impacted household expenses, with food and non-alcoholic beverages experiencing a near 40% increase in 2024.
Nigeria’s headline inflation rose to 34.60% in November 2024 reflecting a further surge in the costs of goods and services across the country.
Nigeria’s headline inflation rate rose to 33.88% in October 2024, up from 32.7% in September 2024, reflecting a 1.18%-point month-on-month increase.
The federal government is set to rebase the country’s Consumer Price Index (CPI) and Gross Domestic Product (GDP) by 2025 to enhance policy accuracy and boost investor confidence.
The average cost of preparing a pot of jollof rice in Nigeria has risen to N21,579, consuming roughly 31% of the country’s minimum wage (N70,000) in September.
Nigeria’s headline inflation rate in September 2024 rose to 32.70%, up from 32.15% in August 2024 after slowing down for two consecutive months.
Nigeria's headline inflation rate in September 2024 rose to 32.70%, up from 32.15% in August 2024, marking a 0.55% increase month-on-month.
The import of food products gulped about $689.88 million in the first quarter of 2024, which is about 17% of the total foreign exchange (FX) spending on imports.
Nigeria's imported food inflation jumped to 36.38% in June 2024, from 34.83% recorded in the previous month, which represents a 1.55%-points increase.
Nigeria's month-on-month headline inflation rate has risen for the first time since February 2024, according to the latest Consumer Price Index (CPI) report for June 2024 released by the National Bureau of Statistics (NBS).
Bitcoin, the primary crypto asset has lost the momentum it garnered from yesterday’s Consumer Price Index (CPI) numbers which was positive and gave the crypto market a boost.