The Consumer Price Index released by the National Bureau of Statistics on Tuesday showed inflation index rose to 11.24 per cent in September, barely a month after the border closure.
The 11.24 per cent represents an increase of 0.22 per cent when compared to the 11.02 per cent recorded in August.
The prices of food items have been on a steady increase since August when the Federal Government closed Nigeria’s borders to the neighbouring countries.
The NBS report stated that increases were recorded in all the divisions that determined the index. It said the food index rose by 13.51 per cent in September compared to 13.17 per cent in August. It said the rise in the food index was caused by increases in prices of bread and cereals, oils and fats, meat, potatoes, yam and other tubers, fish and vegetables.
The NBS report read in part, “The consumer price index, which measures inflation increased by 11.24 per cent year-on-year in September 2019.
Source: Punch Newspaper.
