Oyo State Records Lowest Inflation in Food Prices, Items Price in Nigeria

Latest figures published by the National Bureau of Statistics has revealed that Oyo state witnessed the lowest rise in food prices in Nigeria in the month of February

As contained in the NBS monthly inflation report for February 2021 that was published on the 16th of March, 2021, Oyo State has the lowest rise of 0.09% in February 2021 month on month while Kogi state witnessed the highest at 3.34%.

Notably, the factor that affects food price inflation is the increment in the prices of bread, cereals, potatoes, yams, fruits and vegetables.

Oyo State also recorded the lowest rise in all items inflation with a rise of 0.38% month on month.

Items inflation refers to the price increment of passenger transport, medical services, hospital services, repair and maintenance of vehicles, and other human needed services.

Meanwhile, Kogi also had the highest rise in all items inflation at 3.25% month on month while Ondo had 2.46% and Kebbi 2.43%.