Nigeria Inflation Rate at 4-Month High of 11.28%

Nigeria's annual inflation rate rose further to 11.28 percent in September of 2018 from 11.23 percent in August. It was the highest inflation rate since May, amid a generalized increase in prices. On a monthly basis, consumer prices went up 0.84 percent, easing from a 1.05 percent gain in the prior month.

Year-on-year, prices increased further for food (13.31 percent compared to 13.16 percent in August); housing & utilities (7.27 percent compared to 7.25 percent); education (9.92 percent compared to 9.83 percent); health (9.65 percent compared to 9.64 percent); restaurants & hotels (9.39 percent compared to 9.38 percent) and communication (6.79 percent compared to 6.32 percent). 

Meanwhile, cost slowed for clothing & footwear (10.03 percent compared to 10.20 percent); transport (10.50 percent compared to 10.65 percent); furnishings & household equipment maintenance (9.79 percent compared to 10.07 percent) and miscellaneous goods & services (9.85 percent compared to 10.03 percent). Additionally, inflation was steady for recreation & culture (8.32 percent). 

Annual core inflation which excludes price of volatile agricultural products declined to 9.84 percent in September from 10.02 percent in the prior month.

On a monthly basis, consumer prices rose 0.8 percent, slowing from a 1.0 percent gain in August.

 Nigeria Inflation Rate at 4-Month High of 11.28%

National Bureau of Statistics | Stefanie Moya |
10/16/2018 9:53:09 AM