Nigeria Inflation Rate Edges Up in September

Annual inflation rate in Nigeria rose to 9.4 percent in September of 2015, following a 9.3 percent growth in the previous month. It was the highest value since February of 2013, driven by increased food price during the Muslim holiday period.

Compared to September of 2014, food cost increased 10.2 percent, up from 10.1 percent in August, and imported food prices grew 10.8 percent. Additional upward pressures came from: housing, water, electricity and gas (+7.8 percent); clothing and footwear (+9.5 percent); transport prices (+9.1 percent); furnishings and household equipment (+8.7 percent); education (+9.7 percent); health (+8.7 percent); miscellaneous goods and services (+9.2 percent); hotels, cafés and restaurants (+9.2 percent); alcoholic beverages, tobacco and kola (+9.1 percent).

Annual core inflation rate decreased to 8.9 percent from 9 percent last month.

On a monthly basis, consumer prices held constant growth for the second consecutive month at 0.6 percent, the lowest pace recorded this year. Food cost went up 0.64 percent, boosted by higher prices of bread and cereals; eggs, milk and cheese; oils and fats groups.

Nigeria Inflation Rate Edges Up in September

National Bureau of Statistics | Yekaterina Guchshina |
10/14/2015 3:30:15 PM