The latest Consumer Price Index statistics released by the Nigeria Bureau of Statistics show that Kogi, Lagos, and Rivers are the most expensive states to live in, based on August 2023 inflation rates.
Kogi had the highest inflation rate across all categories, standing at 31.50 percent year-on-year. Lagos and Rivers followed closely behind with 29.17 percent and 29.06 percent, respectively.
Sokoto, Borno, and Nasarawa experienced the slowest increase in headline inflation, with year-on-year growth rates of 20.91 percent, 21.77 percent, and 22.25 percent, respectively.
The trend persisted when comparing the changes on a monthly basis. Kwara, Osun, and Kogi experienced the most substantial increases in inflation, with percentages of 6.07, 4.36, and 4.35, respectively.
Sokoto, Borno, and Ogun recorded the slowest month-on-month inflation growth, with percentages of 1.38, 1.73, and 1.89, respectively.
Kogi also had the highest food inflation rate on a year-over-year basis, at 38.84 percent. Lagos and Kwara were closely behind with 36.04 and 35.33 percent, respectively.
Jigawa, Nasarawa, and Sokoto saw the least increase in food inflation from year to year, with percentages of 24.53 percent, 24.35 percent, and 20.09 percent, respectively.
On a month-over-month basis, Rivers, Kwara, and Kogi experienced the biggest rises in food inflation, with percentages of 7.12 percent, 5.89 percent, and 5.80 percent, respectively.
Sokoto, Abuja, and Niger saw the smallest increases, with percentages of 0.50 percent, 1.30 percent, and 1.40 percent, respectively.
