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Nairaland Forum / Nairaland / General / Business / Nigeria: Inflation Rate Drops To 11.37% In January - NBS (6204 Views)
Nigeria Inflation rate Drops To 15.99% In October - as food prices ease / Inflation Increases By 11.37% In April 2019; 0.12% Higher Than March 2019 Rate / Inflation Rate Declines To 15.37% In 2017 – Nbs (2) (3) (4)
Nigeria: Inflation Rate Drops To 11.37% In January - NBS by rodeo0070(m): 3:38pm On Feb 15, 2019 |
The consumer price index, (CPI) which measures inflation increased by 11.37 percent (year-on-year) in January 2019. This is 0.07 percent points lower than the rate recorded in December 2018 (11.44) percent. Increases were recorded in all COICOP divisions that yielded the Headline index. On month-on-month basis, the Headline index increased by 0.74 percent in January 2019, same rate as was recorded in December 2018 (0.74) percent. The percentage change in the average composite CPI for the twelve months period ending January 2019 over the average of the CPI for the previous twelve months period was 11.80 percent, showing 0.3 percent point from 12.10 percent recorded in December 2018. The urban inflation rate increased by 11.66 percent (year-on-year) in January 2019 from 11.73 percent recorded in December 2018, while the rural inflation rate increased by 11.11 percent in January 2019 from 11.18 percent in December 2018. On a month-on-month basis, the urban index rose by 0.77 percent in January 2019, up by 0.01 from 0.76 percent recorded in December 2018, while the rural index also rose by 0.71 percent in January 2019, down by 0.01 percent from the rate recorded in December 2018 (0.72) percent. The corresponding twelve-month year-on-year average percentage change for the urban index is 12.20 percent in January 2019. This is less than 12.51 percent reported in December 2018, while the corresponding rural inflation rate in January 2019 is 11.46 percent compared to 11.75 percent recorded in December 2018. Food Index The composite food index rose by 13.51 percent in January 2019 compared to 13.56 percent in December 2018. This rise in the food index was caused by increases in prices of Fish, Bread and cereals, Vegetables, Meat, Fruits, Potatoes, yam and other tubers, oils and fats, soft drinks. On month-on-month basis, the food sub-index increased by 0.83 percent in January 2019, up by 0.02 percent points from 0.81 percent recorded in December 2018. The average annual rate of change of the Food sub-index for the twelve-month period ending January 2019 over the previous twelve-month average was 13.93 percent, 0.42 percent points from the average annual rate of change recorded in December 2018 (14.35) percent. All Items Less Farm Produce The All items less farm produce’’ or Core inflation, which excludes the prices of volatile agricultural produce stood at 9.9 percent in January 2019, up by 0.1 percent when compared with 9.8 percent recorded in December 2018. On month-on-month basis, the core sub-index increased by 0.81 percent in January 2019. This was up by 0.31 percent when compared with 0.50 percent recorded in December 2018. The highest increases were recorded in prices of Domestic services and household services, Tobacco, major household appliances whether electronic or not, Medical and Dental services, Garments, Narcotics, Cleaning, repair and hire of clothing, Carpet and other floorings. The average 12-month annual rate of change of the index was 10.34 percent for the twelve-month period ending January 2019; this is 0.17 percent points lower than 10.51 percent recorded in December 2018. State Profiles In analysing price movements under this section, note that the CPI is weighted by consumption expenditure patterns which differ across states. Accordingly, the weight assigned to a particular food or non-food item may differ from state to state making interstate comparisons of consumption basket inadvisable and potentially misleading. All Items Inflation In January 2019, all items inflation on year on year basis was highest in Kebbi (14.64%), Bauchi (13.79%) and Jigawa (13.17%), while Kwara (9.28%) Cross River (9.24%) and Ogun (9.01%) recorded the slowest rise in headline Year on Year inflation. On month on month basis however, January 2019 all items inflation was highest in Delta (1.66%), Ondo (1.55%), and Borno (1.44%), while Ekiti, Nasarawa and Osun recorded negative inflation or price deflation (general decrease in the general price level of goods and services or a negative inflation rate) in January 2019. Food Inflation In January 2019, food inflation on a year on year basis was highest in Kebbi (16.45%), Delta (16.27%) and Ondo (15.63%), while Plateau (11.83%), Enugu (11.64%) and Ogun (10.99%) recorded the slowest rise in food inflation. On month on month basis however, January 2019 food inflation was highest in Delta (2.73%), Kwara (2.50%) and Ondo (2.22%), while Anambra, Ekiti, Enugu, Imo, Nasarawa, Osun and Zamfara all recorded food price deflation or negative inflation (general decrease in the general price level of goods and services or a negative inflation rate) in January 2019. Source: https://brandspurng.com/2019/02/15/nigeria-inflation-rate-drops-to-11-37-in-january-nbs/ 6 Likes 5 Shares
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Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by BIGDADDY000(m): 4:14pm On Feb 15, 2019 |
Hmm, perfect timing to announce this, i think. celebrating mediocrity since 1984. 13 Likes |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by eleojo23: 4:14pm On Feb 15, 2019 |
That still doesn't stop Buhari from going home tomorrow... 25 Likes 2 Shares |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by Dannyset(m): 4:14pm On Feb 15, 2019 |
Yea! Next level things. Thank you Baba Buhari. 27 Likes 6 Shares
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Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by deji17: 4:14pm On Feb 15, 2019 |
Buhari... To the Next Level 8 Likes 3 Shares
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Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by blowjob: 4:14pm On Feb 15, 2019 |
SAI BUHARI 12 Likes 2 Shares |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by KOLLYPROF(m): 4:14pm On Feb 15, 2019 |
A day to election and everything seems booming What a good sign 8 Likes |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by dukeprince50: 4:14pm On Feb 15, 2019 |
population for katsina no b here, dere vote alone will cancel SE, SS and Cameroon votes its not who will win, we are talking about how many million margin. KOLLYPROF:everything is booming? I thought u guys said nothing is working, all is paper work. and oh, I am selling sniper now, place ur oder. cos d price will go up tomorrow. 13 Likes 2 Shares |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by Nobody: 4:16pm On Feb 15, 2019 |
Slow but steady Igbo seriously want to turn back the hand of the clock 11 Likes 2 Shares |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by rusher14: 4:18pm On Feb 15, 2019 |
Sorry to derail but where is Pastor Orisejafor? |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by MANNABBQGRILLS: 4:18pm On Feb 15, 2019 |
GOD BLESS OUR PRESIDENT MUHAMMADU BUHARI AND HIS VICE PRESIDENT YEMI OSIBANJO as they take us to the NEXT LEVEL of our lives 12 Likes 4 Shares
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Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by teejet: 4:18pm On Feb 15, 2019 |
Gradually, we'll get to a SINGLE DIGIT rate. SAI BABA! 6 Likes 1 Share |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by Ajibolatao(m): 4:19pm On Feb 15, 2019 |
Improve and learn new skills on Lynda.com. Get access to premium courses for a token. Learn how to watch and download these courses and even share with others. |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by Firefire(m): 4:22pm On Feb 15, 2019 |
Good bye to Mohomodu Buhary 9 Likes 1 Share
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Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by olajizz01(m): 4:22pm On Feb 15, 2019 |
Good to hear. Continuity is the best option. Beware of the corrupt elements that cause this problem by looting the future of yet unborn children. They were still around using the problem created by them to cajole the unsuspected citizens Vote infrastructure, Vote anti corruption Vote job creation, Vote stable power supply, VOTE PMB. 1 Like
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Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by deji17: 4:24pm On Feb 15, 2019 |
Sai Baba 5 Likes 2 Shares
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Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by popes001: 4:24pm On Feb 15, 2019 |
This is probably the first election in the history of this country in this fourth republic where there wasn’t any cash donations or fund raising party to induce voters or stakeholders and electorates. Thanks to a wonderful president with fiscal discipline, no wonder they don’t want him at the top. We will get there together as a nation God willing. 11 Likes 4 Shares
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Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by Firefire(m): 4:24pm On Feb 15, 2019 |
. 4 Likes
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Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by juwoonn(m): 4:24pm On Feb 15, 2019 |
lies! Paper work. 2 Likes 1 Share |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by Nobody: 4:25pm On Feb 15, 2019 |
Final brainwashing for zombies before elections. 4 Likes |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by mycar: 4:26pm On Feb 15, 2019 |
Double figure |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by modath(f): 4:26pm On Feb 15, 2019 |
Pepper dem gang. ![]() 4 Likes 1 Share
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Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by BRAINTORMS(m): 4:27pm On Feb 15, 2019 |
post=75761542: YOU ARE RIGHT 3 Likes
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Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by DMerciful(m): 4:27pm On Feb 15, 2019 |
A drop from 11.44% to 11.37% is not a drop! This is mediocrity and unacceptable! 1 Like |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by ClearFlair: 4:27pm On Feb 15, 2019 |
The thieves in PDP will not like this. They want to sell Nigeria by force and pocket the money. Even their campaign strategy clearly shows they put their greedy interests above Nigeria’s. God forbid. The cursed PDP will never rule Nigeria again. Hateful, vile, ignorant, inveterate liars and criminals. The hate in their hearts will lead to their untimely destruction. What a party. A party full of criminal elements who have sold their souls to the devil and have held Nigeria back for decades. They have resolved to never let Nigeria realize her full potential, but God will disgrace them. Nigeria will prosper. PDP should go to hell. That is where they belong anyway. Bloody criminals. They want to Atikuloot? Go and Atikulooting in your houses and be stealing things from your family members since that’s what you people are all about. Cursed party. Awon a lai ni ironu oshi. 6 Likes 1 Share |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by MANNABBQGRILLS: 4:28pm On Feb 15, 2019 |
BRAINTORMS:Again, for the 5th time today, YOU ARE RIGHT! 3 Likes 2 Shares
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Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by kogistar: 4:28pm On Feb 15, 2019 |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by Nobody: 4:30pm On Feb 15, 2019 |
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Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by Olawalesmarter(m): 4:30pm On Feb 15, 2019 |
Are Nigerians really sure they Want PDP back in power? ![]() 2 Likes |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by Afonjas: 4:34pm On Feb 15, 2019 |
anjigirl: 2 Likes
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Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by gidjah(m): 4:35pm On Feb 15, 2019 |
KOLLYPROF:booming you just said oga?from single digit last era to 12.51 last December you said booming? Then now 11.44 and u said booming? The economy is not private sector fully driving now, until the government gives it a free flow, some heavy factor still affecting it, no sound minded investor would wanna jump into this kind of economy, the uncertainties are quite high,its been too capitalistic here, very few cronies run the system,the micro economy has been stiffled, very. Very few people are ready to gamble into our economic system now, no any serous clear cut policies to drive the system upward, |
Re: Nigeria: Inflation Rate Drops To 11.37% In January - NBS by femi4: 4:38pm On Feb 15, 2019 |
Next level...jor o 1 Like |
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