Kogi, Lagos, and Rivers are the most expensive states to live in, according to inflation rates for August 2023, according to the most recent Consumer Price Index statistics issued by the Nigeria Bureau of Statistics.
Kogi had the highest annualised rate of all-items inflation at 31.50 percent, closely followed by Lagos at 29.17 percent and Rivers at 29.06 percent.
In contrast, Sokoto showed the least increase in headline inflation on a year-over-year basis, followed by Borno (21.77%) and Nasarawa (22.25%).
When examined on a month-on-month basis, the trend continued, with August 2023 seeing the highest increases in Kwara at 6.07 per cent, Osun 4.36 per cent, and Kogi 4.35 per cent, while Sokoto recorded 1.38 per cent, Borno 1.73 per cent, and Ogun 1.89 per cent recorded the slowest rise in month-on-month inflation.
The data for August 2023 specifically for food inflation displayed a similar pattern, with Kogi once again claiming the lead with the highest year-over-year basis food inflation rate of 38.84%. Lagos and Kwara were closely behind with 36.04 and 35.33 percent, respectively.
On the other hand, Jigawa (24.53%), Nasarawa (24.35%), and Sokoto (20.09%) saw the least increase in food inflation from year to year.
The biggest rises in food inflation were seen in Rivers (7.12%), Kwara (5.89%), and Kogi (5.80%) on a month-over-month basis for the same time, while Sokoto (0.50%), Abuja (1.30%), and Niger (1.40%) saw the smallest increases.