The National Bureau of Statistics (NBS) on Tuesday, said the inflation<\/p>\n
rate in February rose by 11.4 per cent compared to the 9.6 per cent in
\nJanuary.<\/p>\n
This was contained in February 2015 Consumer Price Index (CPI)\/ Inflation
\nReport issued by the NBS in Abuja.<\/p>\n
NAN reports that CPI measures the average change over time in prices of
\ngoods and services consumed by people on daily basis.<\/p>\n
According to the report, the CPI which measures inflation, has recorded a
\nsignificant increase in February.<\/p>\n
\u201cThe headline index increased by 11.4 per cent year-on-year in February,
\nroughly 1.76 per cent point higher from rates recorded in January (9.6%).<\/p>\n
\u201cThe faster pace of increases which led to the overall rise in the
\nheadline index was recorded across almost all major divisions.<\/p>\n
\u201cThis contributes to the headline index with the exception of the
\nrestaurants and hotels division which increased, albeit at a slower pace.\u201d
\nAfter increasing at the same pace for two months, the report said the pace
\nof food prices as recorded by the food sub-index increased at faster pace
\nin February.<\/p>\n
It said the food index increased by 11.3 per cent, up by 0.71 per cent
\npoint from rates recorded in January.<\/p>\n
During the month, it said that all major food groups which contributed to
\nthe food sub-index increased at a faster pace during the month.<\/p>\n
\u201cThe food sub-index increased at a faster pace with the exception of
\npotatoes, yams and other tubers and sugar, jam, honey, chocolate and
\nconfectionery groups.<\/p>\n
\u201cThe \u2018All Items less Farm Produce\u2019 or Core sub-index, increased at a
\nfaster pace in February as imported items as well as other domestic
\nproducts, resulting in ripple effects across many divisions.<\/p>\n
\u201cThe index increased by 11.0 per cent in February, roughly 2.2 per cent
\npoints from rates recorded in January,\u201d it stated.<\/p>\n
On a month-on-month basis, the report said that the Headline Index
\nincreased at a faster pace in February relative to January.<\/p>\n
Meanwhile, the report said both the urban and rural indices recorded
\nincreases in January.<\/p>\n
\u201cThe urban index rose by 12.3 per cent (year-on-year) from 9.7 per cent in
\nthe month earlier, and the rural index increased by 10.7 per cent in
\nFebruary from 9.5 per cent in January.<\/p>\n
\u201cOn a month-on-month basis, both the urban and rural indices increased at
\na faster pace.<\/p>\n
\u201cThe urban index increased by 3.0 per cent in February from 0.9 per cent
\nin January, while the rural index increased by 1.8 per cent from 0.9 per
\ncent in January,\u201d it added.<\/p>\n","protected":false},"excerpt":{"rendered":"
The National Bureau of Statistics (NBS) on Tuesday, said the inflation rate in February rose by 11.4 per cent compared to the 9.6 per cent in January. This was contained…<\/p>\n","protected":false},"author":1,"featured_media":47629,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-47628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\n