Consumer price inflation fell for the 13th consecutive months in January as food prices are flat and communal clash between herdsmen and farmers have been curtailed.
Inflation rate reduced to 11.37 per cent in January 2019 from 11.44 per cent in December 2018. This represents a 0.07 per cent points slower in inflation rate for the period.
The prices of agric eggs, tomatoes, yam, and garri and 39 other food items increased marginally on a month-on-month by 0.02 percent to N611.54 in January 2019 compared to compare with N610.15 recorded in December 2018, according to the National bureau of Statistics (NBS) food prices report.
On year-on-year basis, average price of 43 commodities covered in the report declined by 6.75 percent from N624.84 in January 2018.
The average price of a dozen of agric egg medium-sized rose to N469.85, indicating 0.62 percent expansion over N466.97 reported in the previous month. Highest average price for this food item was recorded in Anambra (N551.17) and the least in Gombe (N412.27).
The cost of brown and white beans in January stood at N382.76 and N336.72 respectively, the least prices in 12 months since January 2018. The cost of brown beans declined by 1.04 percent from N386.78 in December 2018, while white beans fell by 2.32 percent from N344.72 reported a month prior.
Both types of beans were most expensive in Ebonyi. Bauchi (N278.57) and Kano (N225.01) recorded the least price in brown and white beans respectively.
