Food prices grew fastest in Kwara in October

The National Bureau of Statistics (NBS) has disclosed that the rate at which the prices of foodstuff increased in October was highest in Kwara.

This was contained in the October 2020 consumer price index (CPI) report released by the bureau on Monday.

According to the report, food inflation was highest in Kwara (3.88 percent), Edo (3.81 percent) and Sokoto (3.65 percent) on a month-on-month basis; while Oyo (0.57 percent), Jigawa (0.54 percent) and Taraba (0.29 percent) recorded the slowest rise.

On a year-on-year basis, states with the highest food inflation were: Edo (21.65 percent), Zamfara (20.88 percent) and Kogi (20.58 percent); while Lagos (14.57 percent), Ogun (14.47 percent) and Ondo (14.23 percent) recorded the slowest rise.

The report showed that food inflation Nigeria rose by 17.38 percent in October 2020 compared to 16.66 percent in September 2020.

“This rise in the food index was caused by increases in prices of bread and cereals, potatoes, yam and other tubers, meat, fish, fruits, vegetable, alcoholic and food beverages, and oils and fats,” the report read.

The report indicated that the headline inflation recorded its highest increase in four years to hit 14.23 percent in October.