Home Business Nigeria Inflation Rises To 11.37 Percent In April 2019

Nigeria Inflation Rises To 11.37 Percent In April 2019

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The consumer price index, (CPI) which measures inflation increased by 11.37 percent (year-on-year) in April 2019. This is 0.12 percent points higher than the rate recorded in March 2019 (11.25) percent. Increases were recorded in all 12 Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the Headline index.

On month-on-month basis, the Headline index increased by 0.94 percent in April 2019, this is 0.15 percent rate higher than the rate recorded in March 2019 (0.79) percent. The percentage change in the average composite CPI for the twelve months period ending April 2019 over the average of the CPI for the previous twelve months period was 11.31 percent, showing 0.09 percent point from 11.40 percent recorded in March 2019.

The urban inflation rate rose by 11.70 percent (year-on-year) in April 2019 from 11.54 percent recorded in March 2019, while the rural inflation rate increased by 11.08 percent in April 2019 from 10.99 percent in March 2019.

The composite food index rose by 13.70 percent in April 2019 compared to 13.45 percent in March 2019. This rise in the food index was caused by increases in prices of Meat, Fish, Oils and Fats, Bread and Cereals, Fish, Milk, Cheese and egg, Potatoes, Yam, and Other Tubers, Fruits and Vegetables

 

 

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