The National Bureau of Statistics (NBS) yesterday released data showing that the consumer price index rose by 0.24 percentage points from 11.61 per cent in October to 11.85 per cent in November.
“The CPI, which measures inflation, increased by 11.85 per cent year-on-year in November 2019.
“This is 0.24 per cent points higher than the rate recorded in October 2019 (11.61 per cent),” said the bureau.
The November inflation rate of 11.85 per cent is the highest recorded by the country in the last 19 months.
It would be recalled that the last time the country’s inflation rate was as high 11.85 per cent was in April 2018 when it hit 12.48 per cent.
Details of the report showed that urban inflation rate increased by 12.47 per cent year-on-year in November from 12.2 per cent recorded in October, while the rural inflation rate increased by 11.30 per cent in November from 11.07 percent in October.
On the food index, the NBS report said food inflation rose by 14.48 per cent in November compared to 14.09 per cent in October.
The report attributed the rise in food index to increases in prices of bread, cereals, oils and fats, meat, potatoes, yam and other tubers, and fish.
On a month-on-month basis, the report revealed that food index increased by 1.25 per cent in November 2019, down by 0.08 per cent points from 1.33 per cent recorded in October.
It also stated that food inflation on a year-on-year basis was highest in Sokoto (18.77 per cent), Kebbi (18.08 per cent) and Ekiti (17.18 per cent), while Katsina (12.61 per cent), Bayelsa (12.50 per cent) and Bauchi (12.44 per cent) recorded the slowest rise.
