Inflation rate for the month of October has dropped to fifteen point nine percent.
The figure is down from September’s figure of sixteen point six three percent.
The composite food index rose to eighteen point three four percent, year on year.
The highest increases were recorded in prices of Gas, Fuels and lubricants for personal transport equip- ments, Vehicle spare parts, Non-durable household goods, Solid fuel, Passenger transport by road, Passen- ger transport by air, and Garments.
In October 2021, food inflation on a year on year basis was highest in Kogi, Gombe and Jigawa ,while Edo , Rivers and Adamawa recorded the slowest rise in year on year food inflation.
On month-on-month basis, the Headline index increased by 0.98 percent in October 2021, this is 0.17 per- cent rate lower than the rate recorded in September 2021.
The urban inflation rate increased by 16.52 percent (year-on-year) in October 2021 from 14.81 percent recorded in October 2020, while the rural inflation rate increased by 15.48 percent in October 2021 from 13.68 percent in October 2020.
