According to the National Bureau of Statistics (NBS), Kogi, Lagos, and Rivers emerged as the most expensive states in Nigeria in December 2023, marking a concerning trend in the nation’s increasing cost of living.
The NBS November Consumer Price Index, released on Monday, showed that the All-Items Inflation rate reached its peak in these three states.
The overall inflation rate for the nation surged to 28.92 per cent, marking the highest in 21 years.
The food inflation rate experienced an increase as well, reaching 33.93 per cent in December, compared to 32.84 per cent in November.
Kogi State claimed the top spot as the most expensive state, with the report indicating an uptick in all-items inflation, soaring to 35.6 per cent from 33.3 per cent the previous month.
Lagos secured the second position for the second consecutive month, registering an all-items inflation rate of 32.3 per cent, mirroring the figures from November.
The food inflation rate in Lagos saw a slight rise, reaching 39.3 per cent.
Maintaining its position as the third most expensive state, Rivers State reported an all-items inflation rate of 32.1 per cent, indicating a slight decrease from the 32.2 per cent recorded in November. The food inflation rate in Rivers State decreased to 38.6 per cent from November’s 40.2 per cent.
The NBS attributed the escalating food prices to security issues in agricultural areas, rising transportation expenses, and other contributing factors.
The report highlighted that on a Month-on-Month basis in November 2023, food inflation was highest in Cross River (4.37 per cent), Edo (3.95 per cent), and Rivers (3.91 per cent), while Anambra (0.63 per cent), Oyo (0.91 per cent), and Bauchi (1.00 per cent) recorded the slowest rise in inflation.
