Inflation figures for the month of May 2019 released by the National Bureau of Statistics (NBS) showed headline inflation rose to 11.40 per cent year-on-year in May, from 11.37 per cent recorded in April 2019.
On a month-on-month basis, inflation increased by 1.11 per cent in May 2019, representing 0.17 per cent increase from the rate recorded in April 2019.
Urban inflation rate increased by 11.76 per cent year-on-year in May 2019 from 11.70 per cent recorded in April 2019. On a month-on-month basis, urban inflation rose by 1.15 per cent in May 2019, 0.15 points higher from 1.00 per cent recorded in April 2019.
Rural inflation rate increased by 11.07 per cent year-on-year in May 2019 from 11.08 per cent in April 2019. On a month-on-month basis, rural inflation rose by 1.07 per cent in May 2019, up by 0.17 from the rate recorded in April 2019.
The composite food index rose by 13.79 per cent year-on-year in May 2019 compared to 13.70 per cent in April.
The rise in the food index was caused by increases in the prices of Meat, Oils and fats, Bread and cereals, Potatoes, yam and other tubers, Fish, Milk, cheese and egg, and Vegetables.
In all items inflation on year-on-year basis, Kebbi (15.76%), Bauchi (14.97%) and Kaduna (13.74%) recorded the highest increase. While Abia (9.91%), Cross River (9.68%) and Kwara (8.45%) recorded the slowest rise in headline year-on-year inflation.
In May 2019, food inflation on a year-on-year basis was highest in Kaduna (17.10%), Kebbi (18.90%) and Gombe (16.90%), while Kogi (11.80%), Rivers (11.70%) and Abia (10.90%) recorded the slowest rise.