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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 : 1/1/1995 |
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| National Clearing System Re-Visited:In January 1995, a revised clearing rule became operational to facilitate effective clearing of financial instruments and shorten the period of clearing. Consequently, inter-state cheque clearing time was reduced from 21 days to 15 days, while intra-state clearing has been reduced from 12 days to 9 days. |
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