The National Bureau of Statistics (NBS) has said the inflation rate was highest in Bauchi State at 24.79 percent.
According to a document obtained at the weekend, the review of the inflation rate between January, last year and January, this year showed that Ondo and Anambra were the second and third worst-hit states with 24.54 percent and 24.51 percent.
The data noted that in the period under review, inflation rate was slowest in Jigawa with 19.09 percent, Borno 19.62 percent and Sokoto with 19.90 percent.
“In January 2023, all items inflation rate on a year-on-year basis was highest in Bauchi (24.79 percent), Ondo (24.54 percent), Anambra (24.51 percent), while Jigawa (19.09 percent), Borno (19.62 percent) and Sokoto (19.90 percent) recorded the slowest rise in headline year-on-year inflation,” said NBS.
It also added that monthly, however, January 2023 recorded the highest increases in Lagos (2.91 percent), Taraba (2.84 percent), Ondo (2.68 percent), while Yobe (0.54per cent), Jigawa (0.73 percent) and Oyo (0.87 percent) recorded the slowest rise on month-on-month inflation.
The document said last month, food inflation yearly was highest in Kwara (29.03 percent), Lagos (27.67per cent), and Ondo (27.38per cent), while Jigawa (19.22 percent), Sokoto (20.80per cent) and Yobe (21.32per cent) recorded the slowest rise in yearly food inflation.
According to the document, monthly, however, January 2023 food inflation was highest in Lagos (3.67per cent), Ogun (3.54 percent), and Ekiti (3.32 percent), while Yobe (-0.50per cent), Jigawa (0.18 percent) and Kebbi (0.92 percent) recorded the slowest rise on monthly inflation.
Earlier, the document said the food inflation rate in January 2023 was 24.32 percent on yearly; which was 7.19 percent points higher compared to the rate recorded in January 2022 (17.13%).
The rise in food inflation, said NBS, was caused by increases in prices of Bread and Cereals, Oil and Fat, Potatoes, Yam and Other Tubers, Fish, Vegetables, Fruits, Meat, and Food Products n.e.c. NBS noted that on a month-on-month basis, the food inflation rate in January 2023 was 2.08%, which was 0.20% points higher compared to the rate recorded in December 2022 (1.89%).
It said this increase was attributed to the increase in the prices of some food items like Oil and Fat, Bread and Cereals, Fish, Potatoes, Yam & Tubers, etc.
The data said the average annual rate of food inflation for the twelve -months ending January 2023 over the previous twelve-month average was 21.53%, which was a 1.44% points increase from the average annual rate of change recorded in January 2022 (20.09%).