NBS Confirms Rise In Inflation …As Kerosene, Gas Prices Increase

The National Bureau of Statistics (NBS) says the Consumer Price Index (CPI) which measured inflation for September increased to 11.28 per cent (year-on-year) from 11.23 per cent recorded in August.
The NBS disclosed this in its “CPI and Inflation Report” for September released in Abuja, yesterday.
According to the Bureau, the figure is 0.05 per cent points higher than the rate recorded in August.
The report showed that increases were recorded in all the Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the headline index.
On month-on-month basis, NBS said that the Headline Index increased by 0.84 per cent in September down by 0.21 per cent points from the rate recorded in August (1.05 per cent).
It said that the percentage change in the average composite CPI for the 12 months period ended September over the average of CPI for the previous 12 months period.
It, however, measured the CPI at 13.16 per cent in the period under review, showing 0.39 per cent point from 13.55 per cent recorded in August.
The NBS said the average price per litre paid by consumers for National Household Kerosene increased to N297.28 in September from N288.75 recorded in August.
The NBS disclosed this in its National Household Kerosene Price Watch for September released in Abuja, yesterday.
The bureau said the price of Kerosene increased by 2.95 per cent month-on-month and 12.40per cent year-on-year.
It named states with the highest average price per litre of kerosene to include Abuja (N350.00), Niger (N337.88), and Enugu (N344.67).
It said the states with the lowest average price per litre of kerosene were Borno (N250.00), Abia and Kogi (N241.67) and Kwara (N235.28).
According to the bureau, the average price per gallon paid by consumers for Kerosene increased by 3.95 per cent month-on-month and by 15.75per cent year-on-year.
The NBS said the price per gallon paid by consumers for kerosene increased to N1,127.05 in September from N1,084.24 paid in August.
It said the states with the highest average price per gallon of kerosene were Ebonyi (N1260.00), Jigawa (N1,258.33) and Ekiti (N1,253.33).
According to NBS, the states with the lowest average price per gallon of kerosene are Benue (N1,016.64), Bayelsa (N994.90) and Akwa Ibom (N956.01).
The average cost of refilling a five kilogramme (kg) cylinder for Liquefied Petroleum Gas (Cooking Gas) increased to N2,107 from N2,054 recorded in August.
The bureau disclosed this in its “Liquefied Petroleum Gas (Cooking Gas) Price Watch’’ (September 2018) report on Tuesday in Abuja.
It said the price for refilling a 5kg cylinder of cooking gas increased by 2.60 per cent month on month and 10.26 per cent year-on-year in the period under review.
According to the bureau, states with the highest average price for refilling a five kg cylinder for cooking gas are Bauchi (N2,400.00), Borno (N2,440.00) and Gombe (N2,487.50).
It said states with the lowest average price for refilling a five kg cylinder for cooking gas were Abuja and Ebonyi (N1,900.00), Enugu (N1,865.45) and Kaduna (N1,800.00).
Similarly, the NBS said the average cost of refilling a 12.5kg cylinder for cooking gas increased from N4,366.48 in August to N4,376.19 in September.
It said the price increased by 2.88 per cent month-on-month and 8.00 per cent year-on-year in the month under review.
“States with the highest average price for the refilling of a 12.5kg cylinder for cooking gas are Akwa Ibom (N5,000.00), Benue (N4,881.25) and Borno (N4,666.67).
“Also, states with the lowest average price for the refilling of a 12.5kg cylinder for cooking gas are Kano and Kebbi (N4,033.33), Yobe (N4,015.81) and Lagos (N4,000.00).”