Inflation rate remains unchanged at 9.6%

Statistician General NBS Yemi Kale

The National Bureau of Statistics said on Sunday that the country inflation rate maintained the December 2015 figure of 9.6 per cent in January this year.

It said while divisions such as food and non-alcoholic beverages, clothing, footwear and others increased at a faster pace in the month relative to December 2015, the headline index was weighed upon by slower increases in other major divisions such as housing, water, electricity, gas, fuel, furnishing and households equipment.

The NBS stated, “In January, the change in levels recorded by the Consumer Price Index, which measures inflation, held at a constant pace relative to January, increasing by 9.6 per cent. The pace of increases in food prices as recorded by the food sub-index increased at the same pace in January as in December, increasing by 10.6 per cent (year-on-year).

“During the month, all major food groups, which contribute to the food sub-index, increased at a faster pace during the month, with the exception of the fruits, vegetables, potatoes, yam and other tubers, sugar, jam, honey, chocolate and confectionery.”

On a month-on-month basis, the report stated that the headline index increased at a slower pace in January relative to December.

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