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Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge - Business - Nairaland

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Nigeria’s Inflation Rate Rises Further To 21.91% In February 2023 / Inflation Soars To 21.82% Amid Naira Redesign / Nigeria Inflation rate Drops To 15.99% In October - as food prices ease (2) (3) (4)

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Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by rodeo0070(m): 1:24pm On Aug 17, 2020
Nigeria’s inflation rate rose further in July 2020 to 12.82% (year-on-year), 0.26% points higher than the rate recorded in June 2020 (12.56%). This is according to the latest CPI report, released by the National Bureau of Statistics.

On a month-on-month basis for Nigeria’s inflation rate, the Headline index increased by 1.25 percent in July 2020. This is 0.04 percent rate higher than the rate recorded in June 2020 (1.21) percent.

The percentage change in the average composite CPI for the twelve months period ending July 2020 over the average of the CPI for the previous twelve months period was 12.05 percent, representing a 0.15 percent point increase from 11.90 percent recorded in June 2020.

The urban inflation rate increased by 13.40 percent (year-on-year) in July 2020 from 13.18 percent recorded in June 2020, while the rural inflation rate increased by 12.28 percent in July 2020 from 11.99 percent in June 2020.

On a month-on-month basis, the urban index rose by 1.27 percent in July 2020, up by 0.04 from 1.23 percent recorded in June 2020, while the rural index also rose by 1.23 percent in July 2020, up by 0.04 from the rate recorded in June 2020 (1.19) percent.

The corresponding twelve-month year-on-year average percentage change for the urban index was 12.66 percent in July 2020. This is higher than 12.50 percent reported in June 2020, while the corresponding rural inflation rate in July 2020 is 11.49 percent compared to 11.36 percent recorded in June 2020.

Food Index

The composite food index rose by 15.48 percent in July 2020 compared to 15.18 percent in June 2020.

This rise in the food index was caused by increases in prices of Bread and cereals, Potatoes, yam and other tubers, Meat, Fruits, Oils and fats, and Fish.

On a month-on-month basis, the food sub-index increased by 1.52 percent in July 2020, up by 0.04 percent points from 1.48 percent recorded in June 2020.

The average annual rate of change of the Food sub-index for the twelve-month period ending July 2020 over the previous twelve-month average was 14.63 percent, 0.17  percent points from the average annual rate of change recorded in June 2020 (14.46) percent.

All Items Less Farm Produce

The "All items less farm produce" or Core inflation, which excludes the prices of volatile agricultural produce stood at 10.10 percent in July 2020, down by 0.03 percent when compared with 10.13 percent recorded in June 2020.

On a month-on-month basis, the core sub-index increased by 0.75 percent in July 2020. This was down by 0.11 percent when compared with 0.86 percent recorded in June 2020.

The highest increases were recorded in prices of Medical services, Passenger transport by air, Pharmaceutical products, Hospital services, Passenger transport by road, Maintenance and repair of personal transport equipment, Paramedical services and Vehicle spare parts.

The average 12-month annual rate of change of the index was 9.48 percent for the twelve-month period ending July 2020; this is 0.11 percent points higher than 9.37 percent recorded in June 2020.

State Profiles

In analysing price movements under this section, note that the CPI is weighted by consumption expenditure patterns which differ across states. Accordingly, the weight assigned to a particular food or non-food item may differ from state to state making interstate comparisons of consumption basket inadvisable and potentially misleading.

All Items Inflation

In July 2020, all items inflation on year on year basis was highest in Bauchi (16.10%), Kogi (15.90%) and Sokoto and Plateau (15.20%), while Lagos (10.70%), Adamawa (10.60%) and Kwara (10.50%) recorded the slowest rise in headline Year on Year inflation.

On month on month basis, however, July 2020 all items inflation was highest in Kogi (2.85%), Zamfara (2.44%) and Yobe (2.35%), while Ondo (0.67%), Adamawa (0.63%) and Ogun and Imo (0.62%) recorded the slowest rise in headline month on month inflation.

Food Inflation

In July 2020, food inflation on a year on year basis was highest in Kogi (20.09%), Sokoto (19.28%) and Plateau (18.05%), while Adamawa (13.37%), Abia  (13.33%) and Lagos (13.13%) recorded the slowest rise.

On month on month basis, however, July 2020 food inflation was highest in Zamfara (3.40%), Kogi (3.32%) and Yobe (3.00%), while Niger and Ogun (0.44%), Lagos (0.41%) with Adamawa recording price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate).

SOURCE: https://brandspurng.com/2020/08/17/nigerias-inflation-rate-rises-to-12-82-in-july-as-food-prices-surge/

1 Like

Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by Turningmoon(f): 1:47pm On Aug 17, 2020
shocked
Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by Abiamaka(m): 4:19pm On Aug 17, 2020
H
Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by Cti28(m): 4:19pm On Aug 17, 2020
Everything keep going up - Insecurity, unemployment, bad governance, corruption, inflation in both goods and services, utility bills e.t.c

Things that will affect life positively are dwindling into oblivion. Almost all the major roads are in a bad shape; hospital nko? An eye sore; what about the education system? " That one is la cram la pour"

And it seems Nigerians are not ready for change. We enjoy "suffering and smiling at the same time".

Well in my opinion, Nigeria is irredeemable.

37 Likes 1 Share

Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by CallMeDrino: 4:19pm On Aug 17, 2020
angry

1 Like

Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by DigitalyYours: 4:19pm On Aug 17, 2020
Too bad but we are HOPEFUL

Most of the important things in the world have been accomplished by people who have kept on trying when there seemed to be no hope at all.

1 Like

Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by politeme: 4:20pm On Aug 17, 2020
All of us have entered one chance called change, nah only God will deliver us from this mess

21 Likes 2 Shares

Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by ziggy3579: 4:20pm On Aug 17, 2020
Naija which way
Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by Ulysses71: 4:20pm On Aug 17, 2020
Nawaooo
Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by ForeThinker: 4:21pm On Aug 17, 2020
Tales about Nigeria 2020

The hardest thing about changing yourself is how other people see you...

4 Likes

Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by neurowale001(m): 4:21pm On Aug 17, 2020
WE BUY, WE SELL, GOOD CARS � � �..

check signature...

1 Like

Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by purplerope: 4:22pm On Aug 17, 2020
This Inflation Rate Is something else

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Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by lordm(m): 4:22pm On Aug 17, 2020
God will see us through
Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by Angelfrost(m): 4:23pm On Aug 17, 2020
As far as Adesina is concerned, this is nothing but false alarm and cheap propaganda!!!

Everything is going perfectly well in Nigeria!!! grin

7 Likes

Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by kachdviruz(m): 4:23pm On Aug 17, 2020
Food is expensive as Bleep in lagos

4 Likes

Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by heckymaicon(m): 4:23pm On Aug 17, 2020
Mannabbq - Chief Asslicker NRZ your attention is needed here.

7 Likes

Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by Nobody: 4:24pm On Aug 17, 2020
We are in soup

1 Like

Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by Fheelzz(m): 4:24pm On Aug 17, 2020
Which way nah 9ja
Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by Azmanaty: 4:24pm On Aug 17, 2020
We have a very stew-pid president

3 Likes

Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by Reference(m): 4:24pm On Aug 17, 2020
I said it in March. That with the rampaging insecurity tearing the north west, north east and north central apart, with farming villages wiped our wholescale by bandits and terrorists it is only a matter of time before Nigeria faces a food crises.

These are the opening rumblings of a coming earthquake. Brace, brace, brace for impact and start a small savings account in foreign exchange.

7 Likes 1 Share

Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by euniselfyahoo: 4:25pm On Aug 17, 2020
May God help us.
Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by Meedon: 4:25pm On Aug 17, 2020
This hunger is too much I want to commit sweetcide because on that side they will be nothing like hunger and sufferring.
Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by Olarewaju89: 4:26pm On Aug 17, 2020
Buhari dey there dey remove some pieces of meat that enter his teeths. grin

Well, I won't say anything for now until i make front page first.

2 Likes 1 Share

Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by spy24(m): 4:26pm On Aug 17, 2020
i may even get worse by next year
Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by NkemChukwudi: 4:26pm On Aug 17, 2020
politeme:
All of us have entered one chance called change, nah only God will deliver us from this mess

This statement lacks intelligence and reasoned thinking!!!
Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by Angelfrost(m): 4:27pm On Aug 17, 2020
lordm:
God will see us through

No He won't... He gave you all several chances to vote in the right people, but y'all chose to toe the path of tribalism and selfish interests.

God has washed His hands off Nigeria and Nigerians!!! He is currently prospering and blessing nations with smart and united citizens!!!

16 Likes 2 Shares

Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by Nobody: 4:27pm On Aug 17, 2020
Na today? It hasn't gotten to the point when we'll be too famished to support politicians or argue about non-essentials.
We'll be alright!
Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by CelestineNelson: 4:29pm On Aug 17, 2020
It is well...
Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by madridsta007(m): 4:30pm On Aug 17, 2020
rodeo0070:
Nigeria’s inflation rate rose further in July 2020 to 12.82% (year-on-year), 0.26% points higher than the rate recorded in June 2020 (12.56%). This is according to the latest CPI report, released by the National Bureau of Statistics.

On a month-on-month basis for Nigeria’s inflation rate, the Headline index increased by 1.25 percent in July 2020. This is 0.04 percent rate higher than the rate recorded in June 2020 (1.21) percent.

The percentage change in the average composite CPI for the twelve months period ending July 2020 over the average of the CPI for the previous twelve months period was 12.05 percent, representing a 0.15 percent point increase from 11.90 percent recorded in June 2020.

The urban inflation rate increased by 13.40 percent (year-on-year) in July 2020 from 13.18 percent recorded in June 2020, while the rural inflation rate increased by 12.28 percent in July 2020 from 11.99 percent in June 2020.

On a month-on-month basis, the urban index rose by 1.27 percent in July 2020, up by 0.04 from 1.23 percent recorded in June 2020, while the rural index also rose by 1.23 percent in July 2020, up by 0.04 from the rate recorded in June 2020 (1.19) percent.

The corresponding twelve-month year-on-year average percentage change for the urban index was 12.66 percent in July 2020. This is higher than 12.50 percent reported in June 2020, while the corresponding rural inflation rate in July 2020 is 11.49 percent compared to 11.36 percent recorded in June 2020.

Food Index

The composite food index rose by 15.48 percent in July 2020 compared to 15.18 percent in June 2020.

This rise in the food index was caused by increases in prices of Bread and cereals, Potatoes, yam and other tubers, Meat, Fruits, Oils and fats, and Fish.

On a month-on-month basis, the food sub-index increased by 1.52 percent in July 2020, up by 0.04 percent points from 1.48 percent recorded in June 2020.

The average annual rate of change of the Food sub-index for the twelve-month period ending July 2020 over the previous twelve-month average was 14.63 percent, 0.17  percent points from the average annual rate of change recorded in June 2020 (14.46) percent.

All Items Less Farm Produce

The "All items less farm produce" or Core inflation, which excludes the prices of volatile agricultural produce stood at 10.10 percent in July 2020, down by 0.03 percent when compared with 10.13 percent recorded in June 2020.

On a month-on-month basis, the core sub-index increased by 0.75 percent in July 2020. This was down by 0.11 percent when compared with 0.86 percent recorded in June 2020.

The highest increases were recorded in prices of Medical services, Passenger transport by air, Pharmaceutical products, Hospital services, Passenger transport by road, Maintenance and repair of personal transport equipment, Paramedical services and Vehicle spare parts.

The average 12-month annual rate of change of the index was 9.48 percent for the twelve-month period ending July 2020; this is 0.11 percent points higher than 9.37 percent recorded in June 2020.

State Profiles

In analysing price movements under this section, note that the CPI is weighted by consumption expenditure patterns which differ across states. Accordingly, the weight assigned to a particular food or non-food item may differ from state to state making interstate comparisons of consumption basket inadvisable and potentially misleading.

All Items Inflation

In July 2020, all items inflation on year on year basis was highest in Bauchi (16.10%), Kogi (15.90%) and Sokoto and Plateau (15.20%), while Lagos (10.70%), Adamawa (10.60%) and Kwara (10.50%) recorded the slowest rise in headline Year on Year inflation.

On month on month basis, however, July 2020 all items inflation was highest in Kogi (2.85%), Zamfara (2.44%) and Yobe (2.35%), while Ondo (0.67%), Adamawa (0.63%) and Ogun and Imo (0.62%) recorded the slowest rise in headline month on month inflation.

Food Inflation

In July 2020, food inflation on a year on year basis was highest in Kogi (20.09%), Sokoto (19.28%) and Plateau (18.05%), while Adamawa (13.37%), Abia  (13.33%) and Lagos (13.13%) recorded the slowest rise.

On month on month basis, however, July 2020 food inflation was highest in Zamfara (3.40%), Kogi (3.32%) and Yobe (3.00%), while Niger and Ogun (0.44%), Lagos (0.41%) with Adamawa recording price deflation or negative inflation (general decrease in the general price level of food or a negative food inflation rate).

SOURCE: https://brandspurng.com/2020/08/17/nigerias-inflation-rate-rises-to-12-82-in-july-as-food-prices-surge/

Farmers are unable to go to their farms because of the bloodsucking Fulani herdsmen who are killing, maiming, kidnapping up and down.
Low food produce doesnt just happen like that.
Re: Nigeria’s Inflation Rate Rises To 12.82% In July, As Food Prices Surge by NkemChukwudi: 4:30pm On Aug 17, 2020
ziggy3579:
Naija which way

You are 200m in number and have a large reservoir of land. Lazy useless people running to Lagos, Abuja and the metropolis. Who the FFK is supposed to feed you?

No other way but to return to the bloody farm!

4 Likes

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