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Inflation Rates (Percent)



Month July August September
All Items (Year on Change) 3.00 3.70 6.30
All Items (12 Months Avg. Change) 13.50 11.40 10.00
Food (Year on Change)/1 -3.70 -2.30 4.30
Food (12 Months Avg. Change)/1 14.50 11.00 9.00
All Items Less Farm Produce (Year on Change)/2 13.60 14.50 10.60
All Items Less Farm Produce (12 Months Avg. Change)/2 11.30 11.50 11.20
All Items Less Farm Produce and Energy (Year on Change)/3 15.20 11.90 11.00
All Items Less Farm Produce and Energy (12 Months Avg. Change)/3 12.30 12.20 11.90
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
Federal Ministry of Finance:The Federal Ministry of Finance (FMF) advises the Federal Government on its fiscal operations and collaborates with the Central Bank of Nigeria (CBN) on monetary matters. Before 1991, the responsibility for the supervision and licensing of banks was shared between FMF and CBN until 1991 when CBN became the sole authority.
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