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Inflation Rates (Percent)



Month September October November
All Items (Year on Change) 8.00 7.80 7.90
All Items (12 Months Avg. Change) 9.50 9.20 8.80
Food (Year on Change)/1 9.40 9.20 9.30
Food (12 Months Avg. Change)/1 10.10 10.00 9.80
All Items Less Farm Produce (Year on Change)/2 7.40 7.60 7.80
All Items Less Farm Produce (12 Months Avg. Change)/2 8.90 8.60 8.10
All Items Less Farm Produce and Energy (Year on Change)/3 7.30 7.60 7.80
All Items Less Farm Produce and Energy (12 Months Avg. Change)/3 7.80 7.50 7.10
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 : 3/1/1970
ORGANISATION AND GROWTH:In March, 1970, the Board of Directors employed the services of W.H. Rozell (Junior), a consultant, to, among other things, review the existing structure and size of the Bank Departments. In the same year, Rozell proposed a new organisational structure for the CBN.
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