Inflation: NBS Reveals Nigeria’s Most Expensive States

In a recent report by the National Bureau of Statistics (NBS), Bauchi, Kogi, and Oyo have emerged as Nigeria’s most expensive states on a year-on-year basis, following the highest All-Items Inflation recorded in May 2024.

The report, part of the NBS’s May Consumer Price Index and Inflation update released on Saturday, highlights that Bauchi saw an inflation rate of 42.30%, Kogi 39.38%, and Oyo 37.73% year-on-year. Contrarily, Borno (25.97%), Benue (27.74%), and Delta (28.67%) experienced the slowest inflation growth.

On a month-on-month basis, Kano, Gombe, and Bauchi recorded the highest inflation increases with rates of 4.24%, 4.06%, and 3.75% respectively. The slowest month-on-month inflation rates were seen in Ondo (0.57%), Kwara (1.19%), and Yobe (1.24%).

Focusing on food inflation, Kogi, Ekiti, and Kwara topped the charts on a year-on-year basis, with Kogi at 46.32%, Ekiti at 44.94%, and Kwara at 44.66%. In contrast, Adamawa (31.72%), Bauchi (34.35%), and Borno (34.74%) saw the least rise in food inflation year-on-year.

On a month-on-month scale, Gombe led with a food inflation rate of 4.88%, followed by Kano at 4.68%, and Bayelsa at 3.62%. The lowest month-on-month food inflation rates were in Ondo (0.02%), Yobe (0.95%), and Adamawa (1.02%).