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Inflation Monitor
Inflation Monitor describes, on a monthly basis, the composition of items in the food basket which the National Bureau of Statistics uses for the computation of inflation rate in Nigeria. The table indicates for each item, an attached weight and consumer price index as well as three indicative rates of inflation.
Composite Consumer Price Indices (Base: May 2003 = 100) |
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| Weight | ||||
| All Items | 1000.00 | |||
| Food | 637.60 | |||
| Food & Non-Alcoholic Beverage | 644.10 | |||
| Alcoholic Beverage, Tobacco & Kola | 20.60 | |||
| Clothing & Footwear | 32.10 | |||
| Housing, Water, Electricity, Gas & Other Fuel | 181.00 | |||
| Furnishing, Household Equipment & Maintenance | 38.20 | |||
| Health | 13.60 | |||
| Transport | 42.40 | |||
| Communication | 1.10 | |||
| Recreation & Culture | 8.90 | |||
| Education | 2.10 | |||
| Restaurant & Hotels | 12.90 | |||
| Miscellaneous Goods & Services | 3.00 | |||
| All Items Less Farm Produce | 409.53 | |||
| All Items Less Farm Produce & Energy | 335.89 | |||
| 12 Month Moving Ave Inflation Rate | ||||
| Year-on (%) | ||||
| Month-on (%) | ||||
See Inflation Rate Figures
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| Facts : 1/1/1900 |
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| Federal Ministry of Finance:The Federal Ministry of Finance (FMF) advises the Federal Government on its fiscal operations and collaborates with the Central Bank of Nigeria (CBN) on monetary matters. Before 1991, the responsibility for the supervision and licensing of banks was shared between FMF and CBN until 1991 when CBN became the sole authority. |
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