NAIRAMETRICS
Living in Nigeria has become increasingly challenging, as soaring prices and daily expenses have reached an unprecedented peak.
Examining the inflationary numbers for November reveals a grim outlook for Christmas celebrations, with the cost of living set to skyrocket, affecting everything from food items to general commodities.
A closer look at the NBS report reveals that the surge is primarily attributed to escalating food prices, exacerbated by insecurity in food-producing regions, rising transportation costs, and flooding, among other underlying factors.
According to research from Nairametrics, the country is currently facing its highest inflation rate in over 27 years, a dire situation attributed to the removal of fuel subsidies.
In the midst of these disconcerting reports, it is crucial to highlight the top 10 states in Nigeria that are likely to significantly dent consumer pockets during this Christmas season according to NBS November .
#10 Ondo
Ondo holds the 10th spot on the list, showcasing an all-items inflation rate of 29.7%, a slight uptick from October’s figures of 29.4%. Notably, the food inflation rate surged to 35.49%, marking a substantial increase from 27.7%, highlighting the heightened costs of food items in the state.
#9 Kaduna
Kaduna, with an all-item inflation rate of 29.79% is recorded as one of the lowest on the top 10 list even but not low enough to be considered less expensive, A comparison with October figures reveals an increase from 27.52%. Furthermore, the food inflation in Kaduna stands at 32.63%, reflecting a rise from 30.46%.
#8 Kwara
Kwara State, boasting one of the lower inflation rates among the states listed, stands at 30.16%. However, this still represents a significant increase from October’s 28.2%. Particularly striking is the food inflation in Kwara at 40.72%, largely higher than the 31.7% recorded in October, emphasizing the significant role of food prices in the state’s inflation dynamics.
#7 Ogun
Ogun entered the ranking in November at the 7th position, reporting an all-item inflation rate of 30.2%, up from October’s 27.7%. The food inflation rate stands at 35.49%, a substantial jump from 31.39% in October, underscoring the pivotal role of food in driving inflation in Ogun State.
#6 Bauchi
New to the list, Bauchi secured the 6th position with an all-items inflation rate of 30.3%, a notable increase from 28.1% in October. Food inflation, however, shows a decrease from 27.73% in October to 26.14%, indicating a nuanced trend in the state’s inflation dynamics.
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