The latest revelation by the National Bureau of Statistics (NBS) has revealed that Kogi, Lagos, and Rivers are the most expensive states in Nigeria.
According to the Consumer Price Index report released in November, inflation rose to 33.28% in Kogi State while it stood at 32.30% and 32.25% on a year-on-year basis in Lagos and Rivers, respectively.
On the flip side, Borno, Katsina, and Plateau recorded the slowest increase in the inflation rate.
However, the month-on-month analysis for November 2023 revealed a spike in the inflation rate in Kano, Kebbi, and Borno to 3.55%, 3.34% and 3.24%, respectively while Taraba (0.74%), Anambra (1.00%), and Enugu (1.18%) reported the slowest rise.
Delving into food inflation, Kogi, Kwara, and Rivers again took the lead with 41.29%, 40.72%, and 40.22%, respectively, on a year-on-year basis.
In contrast, Bauchi, Borno, and Jigawa experienced the slowest rise in food inflation.
The report provides a comprehensive overview of the economic challenges faced by citizens in different states, shedding light on the disparities in the cost of living and inflationary pressures.
As Nigeria grapples with a nationwide inflation rate of 28.20% in November, the NBS data highlights the urgent need for targeted economic interventions to alleviate the burden on citizens in the most affected regions.