According to the latest May Consumer Price Index and Inflation report released by the National Bureau of Statistics, Bauchi, Kogi, and Oyo have emerged as Nigeria’s three most expensive states in terms of year-on-year All-Items Inflation for May 2024.
When looking at a month-on-month basis, the most expensive states were Kano, Gombe, and Bauchi.
The report highlighted that Bauchi had the highest All-Items inflation rate at 42.30 percent, followed by Kogi at 39.38 percent, and Oyo at 37.73 percent for May 2024.
On the other hand, Borno (25.97 percent), Benue (27.74 percent), and Delta (28.67 percent) experienced the slowest rise in Headline inflation on a year-on-year basis.
For the month-on-month scenario in May 2024, Kano (4.24 percent), Gombe (4.06 percent), and Bauchi (3.75 percent) were the highest increases, while Ondo (0.57 percent), Kwara (1.19 percent), and Yobe (1.24 percent) reported the slowest rise in inflation.
In terms of food inflation, Kogi, Ekiti, and Kwara had the highest year-on-year rates at 46.32 percent, 44.94 percent, and 44.66 percent respectively.
Conversely, Adamawa (31.72 percent), Bauchi (34.35 percent), and Borno (34.74 percent) saw the slowest rise in food inflation year-on-year.
Looking at the month-on-month basis, Gombe (4.88 percent), Kano (4.68 percent), and Bayelsa (3.62 percent) recorded the highest food inflation increases, while Ondo (0.02 percent), Yobe (0.95 percent), and Adamawa (1.02 percent) had the slowest rises in food inflation.