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Inflation Rates (Percent)



Month October November December
All Items (Year on Change) 11.61 11.85 11.98
All Items (12 Months Avg. Change) 11.30 11.35 11.40
Food (Year on Change)/1 14.09 14.48 14.67
Food (12 Months Avg. Change)/1 13.54 13.65 13.74
All Items Less Farm Produce (Year on Change)/2 8.88 8.99 9.33
All Items Less Farm Produce (12 Months Avg. Change)/2 9.25 9.19 9.15
All Items Less Farm Produce and Energy (Year on Change)/3 9.45 9.48 9.95
All Items Less Farm Produce and Energy (12 Months Avg. Change)/3 9.88 9.80 9.76
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 : 7/1/1959
BOARD OF DIRECTORS:The Management of the CBN is placed under a Board of Directors which is responsible for the Policy and General administration of the Affairs and Business of the Bank.Under the original statute,the Board was composed of the Governor as Chairman,a Deputy Governor and Five other Directors all of whom were appointed by the Federal Government.
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