Daud Olatunji
The National Bureau of Statistics (NBS) has identified Kogi, Oyo, and Bauchi states as the most severely affected by inflation in Nigeria.
This revelation comes from the NBS’s Consumer Price Index and inflation report for June, released on Monday.
According to the report, Bauchi leads with a staggering headline inflation rate of 43.95 percent year-on-year, followed by Kogi at 39.91 percent and Oyo at 39.15 percent.
In contrast, Borno, Benue, and Katsina experienced the lowest increases in headline inflation, with Borno at 25.90 percent, Benue at 27.52 percent, and Katsina at 29.21 percent.
On a month-on-month basis, June 2024 saw the highest inflation increases in Yobe (3.79 percent), Abuja (3.45 percent), and Ondo (3.38 percent).
Conversely, Nasarawa (0.71 percent), Osun (1.19 percent), and Kano (1.27 percent) recorded the slowest month-on-month inflation rises.
Earlier reports indicated that Nigeria’s annual inflation rate had surged to 34.19 percent, marking a 0.24 percent increase from the 33.95 percent recorded in May.
This represents the fifth consecutive month of rising inflation, exacerbating the cost-of-living crisis faced by millions of Nigerians under the administration of President Bola Tinubu.
The report also noted that the lowest inflation figure for 2024 was 29.90 percent, recorded in January.
Comparatively, the headline inflation rate for June 2024 is 11.40 percentage points higher than the 22.79 percent recorded in June 2023.
'
'
'
'Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com
We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Kindly donate any amount HERE
