A new report by the Nigerian Bureau of Statistics (NBS) has identified the ten most expensive states to live in Nigeria based on inflation.
In its consumer price index report, the NBS said the headline inflation rate, which measures the price changes of goods and services in the country, rose to 33.69%.
April 2024 inflation rate is a 11.47% points higher compared to the rate recorded in April 2023, which was 22.22%.
Also, when compared on a month-on-month basis, the April 2024 inflation rate showed an increase of 0.49 percentage points compared to the March 2024 headline inflation rate of 33.20%.
A Lagos-based economist, John Ekeh, explained that the latest inflation rate shows how stressed Nigerians are in their daily lives.
He added:
Here are the top 10 most expensive states to live as a Nigerian based on inflation rate for April 2024.
TimesNow.com.ng earlier reported that the price of parboiled rice dropped for the first time this year in April, which relieved families and reduced living standards across the country.
A market survey across Lagos and significant cities shows that in four months, the price of a 50kg bag of rice has decreased by 20%, from an average of N90,000 to N72,000.
Experts have attributed the staple’s price drop to the rise in the value of the naira against the US dollar.
Source: TimesNow.com.ng
