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Inflation Rates (Percent)



Month October November December
All Items (Year on Change) 21.09 21.47 21.34
All Items (12 Months Avg. Change) 17.86 18.37 18.85
Food (Year on Change)/1 23.72 24.13 23.75
Food (12 Months Avg. Change)/1 19.83 20.41 20.94
All Items Less Farm Produce (Year on Change)/2 17.76 18.24 18.49
All Items Less Farm Produce (12 Months Avg. Change)/2 15.31 15.69 16.08
All Items Less Farm Produce and Energy (Year on Change)/3 17.46 17.99 18.21
All Items Less Farm Produce and Energy (12 Months Avg. Change)/3 15.38 15.69 16.02
New base period for Consumer Price Indices is November 2009
Year on change in per cent is year-on-year or annualized inflation rate
Computation of the 12-month average change is based on 12-month moving average
/1 Food inflation rate is also called the non-core inflation
/2 All items less farm produce is otherwise known as core inflation
/3 All items less farm produce and energy is another type of core inflation
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Facts : 1/1/1900
Operation Feed the Nation (O.F.N.):Operation Feed the Nation was introduced by the federal military government headed by General Olusegun Obasanjo in 1979.It had the specific focus of increasing food production on the premise that availability of cheap food would ensure a higher nutrition level and invariably lead to national growth and development.OFN lasted till the civilian government of Alhaji Shehu Shagari in 1979.
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