Revealed: States In Nigeria With The Highest And Lowest Food Price Inflation Rates For 2024

Revealed: States In Nigeria With The Highest And Lowest Food Price Inflation Rates For 2024....KINDLY READ THE FULL STORY HERE▶

The most recent data released by the National Bureau of Statistics (NBS) has unveiled the states in Nigeria with the highest and lowest food inflation rates. According to reports from Naija News, the data disclosed on Monday by the NBS pertains to the month of March 2024.

The states with the highest food inflation rates, as per the NBS, are Abia (5.17%), Cross River (5.14%), and Bayelsa (4.75%). On the other hand, those with the lowest food inflation rates include Borno (1.59%), Yobe (2.08%), and Adamawa (2.12%).

Meanwhile, Nigeria’s overall inflation rate has escalated to 33.2% for March 2024, according to the latest data issued on Monday by the National Bureau of Statistics (NBS). This new figure signifies a 1.5% surge from the 32.7% recorded in February 2024.

The NBS data reveals that concerning a year-on-year basis, the headline inflation rate witnessed an elevation of 11.16% points compared to March 2023’s rate, which stood at 22.04%. This indicates a surge in the headline inflation rate (year-on-year basis) in March 2024 compared to the same month in the previous year (i.e., March 2023).

Furthermore, concerning a month-on-month basis, the headline inflation rate in March 2024 was 3.02%, marking a 0.10% decrease from February 2024’s rate of 3.12%. This implies that in March 2024, the rate of increase in the average price level was lower than the rate recorded in February 2024.

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