Kerosene, diesel and food items’ high prices stir inflation to 10.5 per cent

The National Bureau of Statistics (NBS) on Tuesday said that inflation rate stood at 10.5 per cent in October.
Dr Yemi Kale, the Statistician-General of the Federation, who announced this at a news conference in Abuja, said that the figure was higher than the 10.3 per cent recorded in September.
Kale also said that the monthly change in the Consumer Price Index (CPI) was 0.49 per cent in October, compared with the 1.41 per cent achieved in September.
He said the biggest contributors to the rise in consumer inflation in October were kerosene, diesel and food items like yam, fish and cooking oil.
The statistician-general said the All Items year-on-year average consumer price level for urban and rural dwellers rose by 7.8 per cent and 12.8 per cent, respectively.
He said that the urban All Items monthly index was -0.1 per cent in October against 1.4 per cent in September, while the rural index was 0.9 per cent in October compared with 1.4 per cent in September.
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