The National Bureau of Statistics has released a detailed Consumer Price Index (CPI) and inflation report in Nigeria for the month of August.
Also released were official national data for Petroleum Motor Spirit (Petrol), national household kerosene, food consumables and transport prices in the domestic market for the last month being August.
On a month-on-month basis, the Headline index increased by 0.97 per cent in August 2017, 0.24 per cent points lower from the rate of 1.21 per cent recorded in July.
The percentage change in the average composite Consumer Price Index, CPI, for the 12 month period ending in August 2017 over the average of the CPI for the previous 12 month period was 17.33 per cent, 0.14 per cent point lower from 17.47 per cent recorded in July 2017.
The urban index rose by 16.13 per cent (year-on-year) in August 2017, down by 0.09 per cent point from 16.04 per cent recorded in July, and the Rural index increased by 15.91 per cent in August from 16.08 per cent in July.
For petroleum motor spirit price watch nationwide, the average price paid by consumers for premium motor spirit (petrol) decreased by 1.9% year-on-year and by -2.5% month-on-month to N144.4 in August 2017 from N148.2 in July 2017.
States with the highest average price of premium motor spirit (petrol) were Plateau (N146.4), Rivers (N145.8) and Zamfara (N145.4).
While states with the lowest average price of premium motor spirit (petrol) were Nasarawa (N143), Oyo (N143.2) and LagosO and Ondo (N143.3).
Selected food price watch data for August 2017 reflected that the average price of 1 dozen of Agric eggs medium size increased year-on-year by 28.11% and decreased month-on-month by 2.67% to N485.19 in August 2017 from N498.50 in July 2017.
Also, the average price of piece of Agric eggs medium size (price of one) increased year-on-year by 26.25% and decreased month-on-month by 3.16% to N42.92 in August 2017 from N44.32 in July 2017.
The average price of 1kg of tomato increased year-on-year by 46.26% and month-on-month by 1.82% to N401.30 in August 2017 from N394.13 in July 2017.
The transport fare watch report for August 2017 covers the following categories namely bus journey within the city per drop constant route; bus journey intercity, state route, charge per person; air fare charge for specified routes single journey; journey by motorcycle (okada) per drop; and water way passenger transport.
Average fare paid by commuters for bus journey within the city decreased by 3.45% month-on-month and increased by 40.61% year-on-year to N130.29 in August 2017 from N134.95 in July 2017.
The average price per litre paid by consumers for national household kerosene decreased by 19.60% month-on-month and by 24.37% year-on-year to N225.52 in August 2017 from N280.49 in July 2017.
States with the highest average price per litre of kerosene were Ogun (N285.00), Plateau (N281.66) &Kogi (274.71).
While states with the lowest average price per litre of kerosene were Rivers (N181.59), Yobe (N197.62) and Osun (N197.92).
The recently released CPI, inflation and commodities price watch report is coming days after the National Bureau of Statistics (NBS) released the foreign trade in goods statistics for the 2nd quarter of the year 2017.
