Food prices hit 13-month low as inflation drops marginally...

Data made available by the National Bureau of Statistics (NBS) on Wednesday show that food inflation recorded the lowest month-on-month movement since September 2016.
According to the Core Price Index for October 2017 released by the bureau, the country’s inflation rate stands at 15.91% in October 2017, marginally down from the 15.98% recorded in September 2017.

But the consumer price index (CPI) which measures inflation increased by 15.91 percent (year-on-year) in October 2017.

According to the report, “this was 0.07 percent points lower than the rate recorded in September (15.98) percent making it the ninth consecutive disinflation (slowdown in the inflation rate though still positive) in headline year on year inflation since January 2017.

“The food index increased by 20.31 percent (year-on-year) in October, down marginally by 0.01 percent points from the rate recorded in September (20.32 percent).
“On a month-on-month basis, the food sub-index increased by 0.85 percent in October, down from 0.87 percent recorded in August. This represents the fifth consecutive disinflation in month on month inflation since a 2017 high of 2.57 percent in May 2017. October 2017 also represents the lowest recorded month on month inflation since September 2016.

“While average month on month food inflation for the first five months of the year (January to May 2017) stood at 2.01 percent, average month on month food inflation for the next five months of the year (June to October 2017), stood at 1.27 percent indicating a general slowdown in the rise in food prices from June to date compared to from January to May 2017, though the rate of price increases has remained generally higher on a year on year basis.”

Headline inflation was highest in Bauchi state (23.87 percent) while the lowest was recorded in Kogi state (9.83 percent).

Food inflation was highest in Kwara state at 26.27 percent and lowest in Kogi state at 11.61 percent.

The federal government set the inflation benchmark for 2018 at 12.4% in the proposal submitted to the national assembly by President Muhammadu Buhari on November 7.


Source NBS

This is the president and vice I voted for

God bless Asiwaju for making it Happened

God bless Rotimi omo Amaechi

God bless yemi Osinbajo

God bless Muhammadu Buhari

God bless the progressives

God bless federal republic of Nigeria

Ok

I wonder what office of the Statician General has to gain by cooking up weak statistics in a bid to favor the govt..Only people who still live with their guardians or parents will believe this nonesense , yes prices are not rising as fast as before but the are still on the rise monthly so dint play your self

em one bag of rice now na how much?

sarrki:
Food prices hit 13-month low as inflation drops marginally...

Data made available by the National Bureau of Statistics (NBS) on Wednesday show that food inflation recorded the lowest month-on-month movement since September 2016.
According to the Core Price Index for October 2017 released by the bureau, the country’s inflation rate stands at 15.91% in October 2017, marginally down from the 15.98% recorded in September 2017.

But the consumer price index (CPI) which measures inflation increased by 15.91 percent (year-on-year) in October 2017.

According to the report, “this was 0.07 percent points lower than the rate recorded in September (15.98) percent making it the ninth consecutive disinflation (slowdown in the inflation rate though still positive) in headline year on year inflation since January 2017.

“The food index increased by 20.31 percent (year-on-year) in October, down marginally by 0.01 percent points from the rate recorded in September (20.32 percent).
“On a month-on-month basis, the food sub-index increased by 0.85 percent in October, down from 0.87 percent recorded in August. This represents the fifth consecutive disinflation in month on month inflation since a 2017 high of 2.57 percent in May 2017. October 2017 also represents the lowest recorded month on month inflation since September 2016.

“While average month on month food inflation for the first five months of the year (January to May 2017) stood at 2.01 percent, average month on month food inflation for the next five months of the year (June to October 2017), stood at 1.27 percent indicating a general slowdown in the rise in food prices from June to date compared to from January to May 2017, though the rate of price increases has remained generally higher on a year on year basis.”

Headline inflation was highest in Bauchi state (23.87 percent) while the lowest was recorded in Kogi state (9.83 percent).

Food inflation was highest in Kwara state at 26.27 percent and lowest in Kogi state at 11.61 percent.

The federal government set the inflation benchmark for 2018 at 12.4% in the proposal submitted to the national assembly by President Muhammadu Buhari on November 7.


Source NBS

say no to dullardism

Story...Prices remains high...how much is a bag of rice and maize?

ejibaba:
Story...Prices remains high...how much is a bag of rice and maize?

Maize is 8 thousand after 3months of harvesting

Bag of unprocessed rice is with 7k to 7500

sarrki:
This is the president and vice I voted for

God bless Asiwaju for making it Happened

God bless Rotimi omo Amaechi

God bless yemi Osinbajo

God bless Muhammadu Buhari

God bless the progressives

God bless federal republic of Nigeria

Your just a factory fitted dummy.
No shame No conscience .

Paid post from a paid apc agent. The only way,for us to get out of this hardship is through the ballot come 2019

They have started dishing out propaganda over falling prices of food. In which county? Zoo. Same country were bag of rice sells for N20,000 unlike N8000 under GEJ govt.
No matter how Vegetable govt of buhari tries to dish out propaganda, it will be in recorded history that Nigerians enjoy low and steady prices of food during the so called"Clueless GEJ govt" compared to buhari's regime were common palm oil is out of reach of poor villagers not to talk of rice.

Saaruman:
They have started dishing out propaganda over falling prices of food. In which county? Zoo. Same country were bag of rice sells for N20,000 unlike N8000 under GEJ govt.
No matter how Vegetable govt of buhari tries to dish out propaganda, it will be in recorded history that Nigerians enjoy low and steady prices of food during the so called"Clueless GEJ govt" compared to buhari's regime were common palm oil is out of reach of poor villagers not to talk of rice.

Mr man we eat home grown rice now

It can be packaged as foreign rice

The truth is we create employment

From land acquisition , land preparation, chemical application, broadcasting, weeding, cutting ,threshing, bagging ,sowing, transportation, loading , selling and above all we are self independent

Actually it's relatively easy to lie with statistics

I losing my trust on this nbs.
U can lie on many things but food prices...don't go there I won't take it

sarrki:


Maize is 8 thousand after 3months of harvesting

Bag of unprocessed rice is with 7k to 7500

When will you stop dishing out falsehood! A bag of maize in Abuja today is N16000 and a bag of olam made in Nigeria rice that i bought in Benin last week Monday was N18000. These are based on personal experience. It's about time we start speaking truth to the authorities. Nigerian are dying of hunger!

Elose11:

When will you stop dishing out falsehood! A bag of maize in Abuja today is N16000 and a bag of olam made in Nigeria rice that i bought in Benin last week Monday was N18000. These are based on personal experience. It's about time we start speaking truth to the authorities. Nigerian are dying of hunger!

Bro please how many bags do you need

I will sell at 7500 to you

I swear without going outside to buy

Up to 800 bags

I swear I will do without blinking

princemillla:
I losing my trust on this nbs.
U can lie on many things but food prices...don't go there I won't take it

Since its not a negative news about this administration shay ?

Which food: ogbono or egusi ?

Keneking:
Which food: ogbono or egusi ?

Ofinsala, luru, kuka and gbegiri

sarrki:


Maize is 8 thousand after 3months of harvesting

Bag of unprocessed rice is with 7k to 7500

stop lying

sarrki:


Since its not a negative news about this administration shay ?

Bro make I hear word.
I am a pro Buhari supporter but there r some lies that should b exposed. Even tinubu confirms nigerians are suffering.

And what positive new has ever emerged in this administration without deceit?

Hmm

zenmaster:

stop lying

Bring 7500

I will sell to you

sarrki:
This is the president and vice I voted for

God bless Asiwaju for making it Happened

God bless Rotimi omo Amaechi

God bless yemi Osinbajo

God bless Muhammadu Buhari

God bless the progressives

God bless federal republic of Nigeria

Have you pray for your family(if at all you have any) this morning?

How much is bag of rice before May29 2015 & how much is it as of today? What's naira to USD exchange rate as at May 29 2015 but how much is it now?

FarahAideed:
I wonder what office of the Statician General has to gain by cooking up weak statistics in a bid to favor the govt..Only people who still live with their guardians or parents will believe this nonesense , yes prices are not rising as fast as before but the are still on the rise monthly so dint play your self

My guy I just tire for these Buhari people oh,well I don't blame them because they still ve a pocket of supporters egging them on by insisting that they ve done too well when evidences show the contrary,of what use is the statistics reeled out to me if it ain't gonna reflect in the prices of my FMCG's. The likes of Sarki,Ugene...re there to always cheer them on.

yomi96:
Paid post from a paid apc agent. The only way,for us to get out of this hardship is through the ballot come 2019

There are more APC agents than you think, so how do you intend to vote them out?

sarrki:
This is the president and vice I voted for

God bless Asiwaju for making it Happened

God bless Rotimi omo Amaechi

God bless yemi Osinbajo

God bless Muhammadu Buhari

God bless the progressives

God bless federal republic of Nigeria

MONITZ:



My guy I just tire for these Buhari people oh,well I don't blame them because they still ve a pocket of supporters egging them on by insisting that they ve done too well when evidences show the contrary,of what use is the statistics reeled out to me if it ain't gonna reflect in the prices of my FMCG's. The likes of Sarki,Ugene...re there to always cheer them on.

Fmcgs are mostly products from private coy


So it's an open market

Abeg oooo, who carry am go up before? Dem say na 13 month low, sebi na dem don dey power for over 24months so make we hear word.

sarrki:


Fmcgs are mostly products from private coy


So it's an open market

Who be dis one?Do u think u can really lecture me on what FMCG's are? Directly and indirectiy the Federel Government polices impact positively and negatively on this very sector.The government's useiess policy of dilly dallying has impacted negatively on this sector,I just hope they come to their senses on time so as to ameliorate the damages already done...